CNBC's Jim Cramer argued on Wednesday that the true impact of artificial intelligence (AI) on business and the stock market has yet to be fully realized. He emphasized that AI should not be dismissed as just another overhyped technology losing its appeal. Cramer noted that many investors still don't understand what AI is, simply because we have not witnessed any transformative breakthroughs from the AI industry thus far. He cautioned against quickly disregarding AI leaders like chipmaker Nvidia in favor of traditional high-performing stocks in industries such as refineries and dollar stores.

Such an outlook, according to Cramer, would be akin to investors saying, "Step aside, Nvidia CEO Jensen Huang, because the future lies in oil and gold. " Using a baseball analogy, Cramer suggested that AI is still in its batting practice stage and has yet to even start the game. However, he believes that AI has the potential to eliminate many physically demanding jobs and become a crucial tool for launching businesses that would otherwise struggle to secure sufficient funding. Cramer acknowledged the challenges that arise with generative AI and large language models, particularly in our limited ability to comprehend their potential for change. He commented, "Most of us struggle to see beyond the immediate future, let alone 10 minutes from now. "