Not an entirely unbiased source (Micro Focus), but still an interesting reality check
According to Gartner, 85% of the world's businesses data was still being processed in COBOL as recently as 2001 (only when discussing something like COBOL could we consider 2001 "recent"). At the time, Gartner said that the amount of COBOL code in the world was actually increasing. Micro Focus claims that COBOL is in use at about 70% of the world's businesses.
And while many of these applications will be re-written, Ramadoss thinks much of this code will still be around. These applications have been written running for years. They're secure and stable, and businesses aren't going to give them up easily. "No other language is capable of representing business data as accurately as COBOL," he says.