The ratio between a single pass and multiple passes is unchanged when you throw more processing power at both.
In a human 30ms vs 3-4 seconds is a 1:100 ratio. Single vs multiple passes with an LLM varies but a 1:100 ratio isn’t unrealistic. So with enough compute and the right workload single vs multiple pass LLM could sit in that exact same 30ms vs 3-4 second timeframe.
Multiple passes doesn't make it system 2. The defining characteristic of system 2 is consciousness which is expensive and slows down the system.
So to talk about system 2 in AI we need to talk about consciousness. As long as AI is not officially conscious there is no System 2 thinking implemented
Consciousness is ill defined hogwash when used in such descriptions.
The process of internal refinement without external action however fits.
Using system 1 and 2 for AI is ill defined hogwash indeed.
The systems apply for humans and describe conscious and subconscious processing. Without that the entire reference to thinking fast and slow is bullshit.
System 1 and 2 is a description of physical process in people.
Using conscious vs subconscious processing is not however a meaningful definition. Subconscious processing isn’t necessarily fast. Visual processing and sensory integration can be quite slow without any conscious input.