Absolutely true, and the challenge is that a large portion of modernization projects fail (around 70%).

The main reasons are the loss of institutional knowledge, the difficulty of untangling 20–30-year-old code that few understand, and, most importantly, ensuring the new system is a true 1:1 functional replica of the original via testing.

Modernization is an incredibly expensive process involving numerous SMEs, moving parts, and massive budgets. Leveraging AI creates an opportunity to make this process far more efficient and successful overall.