It can't even explain small code to me unless it is something that it has been trained on. Often it gets even simple things wrong, either obviously, or worse, subtly wrong.
I still think we will get useful things from scaling up current models though. I've already got a lot of value out of Copilot, for instance, and I'm looking forward to the next version based on GPT-4. Recently, I've been using the GPT-3 Copilot to write a lot of pandas/matplotlib code, which is fairly straightforward and repetitive, but as mainly a Java developer, I just don't have the APIs at my fingertips. Copilot helps a lot with this sort of thing.
Right, but it's no more known than before GPT models IMO. It's the same unknown.
I don't mean to imply these language models are not impressive. They are pretty impressive.
Specifically, I was using this to support the statement "In very near future your IDE will send the whole codebase as context to LLMs." I'm not talking about loops or accuracy.
https://platform.openai.com/docs/models