Artificial Intelligence 2010: When will AI reality catch up with Sci-Fi Imaginings?

Why has AI been taking so long to develop compared with its fictional version?
These are my notes from the SXSWi panel, which asked the question. The chair was Dr Doug Lenat of Austin based www.cyc.com (lenat@cyc.com):
“Cycorp was founded in 1994 to research, develop, and commercialize Artificial Intelligence. Cycorp’s vision is to create the world’s first [...]