If you've been remotely tuned in to the developments in generative AI over the past year, you've likely been inundated with news, ranging from claims that these models will replace numerous white-collar jobs to declarations of sentience and an impending AI apocalypse. At this stage, the hype surrounding AI has far surpassed the actual useful information available.

In this presentation, we’ll cut through the noise and delve deep into the current applications, risks, and limitations of these generative AI models. We will start with the early research endeavours aimed at creating an "artificial brain" and trace the path that has led us to today's sophisticated models. Along the way, we will address the misconception of mistaking these models for intelligent systems and shed light on the actual requirements for developing true artificial general intelligence, and see how far we seem to be from this goal. Moreover, we will highlight how an excessive focus on topics like the sentience of these systems has overshadowed the genuine issues associated with these models. By shifting our attention towards their real limitations, we will see how we can better maximise the potential of these exciting models.