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he global financial and governmental infrastructure relies on a hidden foundation: hundreds of billions of lines of COBOL code written decades ago. As the generation of developers who built these systems retires, organizations face a critical maintenance crisis. Anthropic’s AI, Claude, is emerging as a potential solution, not by magically rewriting everything, but by automating the arduous and expensive process of understanding these legacy systems. This approach could transform a high-risk strategic gamble into a manageable modernization project.