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In this tutorial, Eric Minick from IBM Cloud discusses application modernization and three major simultaneous transformations taking place. These transformations focus on changes in architecture, infrastructure, and delivery methods. In the past, applications were monolithic and run on physical servers, with a waterfall-style development approach. Now, most organizations are moving towards a distributed architecture, typically based on Service-Oriented Architecture (SOA). These changes mark a shift away from traditional long-term project planning towards more agile and adaptable methods.