Can AI help solve the COBOL code crisis?

OpenAI claims its AI models can improve the migration of aging software written in older programming languages like COBOL to modern code, potentially helping organizations maintain and modernize their systems. COBOL remains widely used in critical infrastructure, such as online banking systems, credit card transactions, and government services, despite being over 60 years old. The language is so ubiquitous that replacing it is difficult due to the risk of breaking essential systems and the retirement or death of programmers who understand it.