As long as the hallucinations exist, it is going to come far short of the current hype. There can be no "trusted" applications of such AI's. I expect the hallucination problem is going to be very difficult to solve, some are suggesting we may need different architectures entirely.

The other issue, is that the bad and nefarious uses of AI are exploding and are going to be hard to contain. Hallucinations don't really hurt such cases, as when you are scamming with fake information, it is not an inhibitor.

This creates an unfortunate imbalance with far more destructive uses than we would like and no clear means to control them. This may lead to a real public disaster in the terms of favorable opinions on future AI development.

Especially if the deep fakes explode during election season. AI is going to be seen as an existential crisis for truth and reason.