Uh, no. It knows quite a lot more than just how to carry on a conversation. That's actually the point - it's a conversational Expert System.
Technically, yes, functionally, no. ChatGPT is anything but an "expert" in any subject matter, and calling it an expert system can only serve to confuse and mislead the public into thinking that it is indeed an oracle. Better to just view it as a chatbot. If I were to anthropomorphize ChatGPT, I'd call it a (very) helpful idiot-savant with a shaky grasp on reality.
That's the main obstacle facing Google and Microsoft (and Baidu), sufficiently grounding GPT/co in real-life data for it to be reliable enough as a supplement to search queries. My layman's understanding is that MS is filtering user queries through its Prometheus whatzit to mitigate hallucinations. But I think until the model improves, which may happen with GPT-4, then safeguarding will be mainly through brute force grunt work, ie with an army of human "editors" behind the scene making corrections.
I like Microsoft's vision, to embed conversational AI in all of its products. One of MS' biggest problems with mature products like MS Office is that there are so many features available, that surfacing the right feature at the right time is a difficult task. An AI can handle that task easily. It would be a compelling upgrade for many of its products, including Windows itself.
Indeed, I forsee a conversational UI as being a "killer app" for all operating systems as well as apps.
OTOH, I also see the downsides. Privacy would go out the window (no pun intended). You may be forced to use products, eg MS Edge, that you may not care for. As with anything, there are pros and cons.
Gauging from this week's presentations alone, Google is a step behind MS. But given the stakes involved, I've no doubt a forceful response will be forthcoming.
The race is on. Meta and Apple will surely join the fray at some point this year. Amazon? TikTok? I can't imagine a tech company who won't be impacted by this, or are not planning for this.