The brain is slow in "cycles"/second, but the amount of computation done by each cycle isn't directly comparable to that done by a computer.
Forgetting isn't a bug, it's a feature. Forgetting is basically like dimensionality reduction on input data - we extract the principle components/exemplars, remember a weighting, and trash the redundancy. Training a ML model is a lot faster on smaller data, and the same is true for us.
Don't compare ANNs with the brain strictly on a time/time basis. Time isn't the only factor, power consumption and heat production are also factors, and if you include them the brain comes out way ahead.
People with an engineering background almost universally underestimate how freaking awesome biology is. Our brains are self-constructing, self-replicating, self repairing (mostly) hyper-efficient pattern recognition systems. The more we learn about them the more awesome we realize they are. Don't be so arrogant as to assume a few hundred years of engineering will universally eclipse hundreds of millions of years of evolution.