The world of finance stands on COBOL - why and what will happen next?

The article discusses the dominance of COBOL in the IT industry and its implications for IT strategies. COBOL, created in the 1950s, is still utilized by many critical systems, especially in the financial sector and public administration. The author emphasizes that despite the emergence of new technologies, many organizations continue to rely on legacy COBOL systems, presenting challenges for modern IT strategists. Technological transformations and the growing demand for COBOL programming skills indicate that this language still holds its place in today’s software development landscape. With a shortage of skilled professionals, organizations must rethink their approach to maintaining and modernizing COBOL-based systems to keep pace with competition.