Part of me is glad we're not exactly there yet, because the thought of this running autonomously in a thinking cycle is downright scary. What will you find when you sit behind the console in the morning? It took us months to start understanding this in its current one-shot mode.
I don't care about the ideological downvotes, but we will do better if we start taking this very seriously. It's no longer theoretical that this (and machine learning as such) will have unprecedented (and impossible to predict) impact on everything we know, and the timeline is now measured in months instead of years or decades.
What is "contextual extension by abstract inference" and why do you say it's "the basic building block of AGI"? Can you point to an authoritative source for the two parts of the statement (i.e. a source that defines "contextual extension by abstract inference" and a source that asserts this is "the basic building block of AGI")?