Ethan Mollick: AI is rapidly unlocking demand for legacy system migration
AI summary
Ethan Mollick points out that the legacy system software migration market was previously worth about $30 billion a year, because migration costs were high and maintenance was easier. After talking with established enterprises, he found that AI is unlocking a backlog of scoped, lower-cost migration projects at an unexpected pace.
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The market for software migration from legacy systems has been limited to $30B a year or so because migration is very expensive and maintenance is easier. Talking to older firms, there is a real backlog of scoped cheaper migration projects being unlocked by AI surprisingly fast