Personalized learning (PL) aspires to provide an alternative to the one-size-fits-all approach in education. Technology-based PL solutions have shown notable effectiveness in enhancing learning performance. However, their alignment with the broader goals of modern education is inconsistent across technologies and research areas. In this paper, we examine the characteristics of AI-driven PL solutions in light of the goals outlined in the OECD Learning Compass 2030. Our analysis indicates a gap between the objectives of modern education and the technological approach to PL. We identify areas where the AI-based PL solutions could embrace essential elements of contemporary education, such as fostering learner's agency, cognitive engagement, and general competencies. While the PL solutions that narrowly focus on domain-specific knowledge acquisition are instrumental in aiding learning processes, the PL envisioned by educational experts extends beyond simple technological tools and requires a holistic change in the educational system. Finally, we explore the potential of generative AI, such as ChatGPT, and propose a hybrid model that blends artificial intelligence with a collaborative, teacher-facilitated approach to personalized learning.