Artificial intelligence (AI) has taken center stage in recent times. Some see it as the next technology to transform the world.

We've already gotten a taste of some of its power. Amazon uses AI to show us products we may like as we shop on the e-commerce site. And Medtronic has put AI into action in its medical devices to improve surgical outcomes.

All of that is great. But certain things the AI community is suggesting about the technology could be doing more harm than good, according to billionaire Ken Griffin. The founder and CEO of Citadel shared his concerns during an event for new interns this week, CNBC reported. He says AI is in its early days -- and that means it's not going to change the world in a day.

Does this mean investors have been too quick to flock to AI stocks? Let's find out.

The most profitable hedge fund manager

Griffin's Citadel holds a whopping $58 billion in investment capital. And it's the most profitable hedge fund manager ever.

It's important to note that Citadel does invest in a big AI stock. I'm talking about Nvidia (NVDA -3.33%), the maker of chips that power AI systems. In fact, thanks to Nvidia's role in the world of AI, the stock has soared more than 150% since the start of the year.

In the first quarter, Citadel  increased its position in the chipmaker by 55%. The firm not only holds Nvidia shares, but the stock also is its second-biggest position, if we don't include options contracts.

So it's fair to say Griffin is a believer in the potential of AI. Now let's move on to his comments to the firm's new interns.

"I do think the AI community is making a terrible mistake by being full of hype on the near-term implications of generative AI," he said, according to CNBC. And he added that this sort of message actually is "doing everybody a huge disservice."

Griffin says the idea of AI nudging a wide range of professionals out of jobs isn't likely to happen anytime soon. "Some professions are accepting of errors, but you have to be really accurate in finance," he said in the CNBC report. "You have to be really accurate as a lawyer."

Everyone has been talking about how popular chatbot ChatGPT could potentially replace teachers, web designers, lawyers, accountants, and many other professions. But, as pointed out by Griffin, one issue will get in the way of this: ChatGPT doesn't always produce spot-on data or answers to questions. That means it's difficult for those who need to be 100% sure about their answers to rely on it.

Early days of large language models

ChatGPT is a type of large language model -- or an algorithm using huge data sets to create new content. Griffin said these language models are in their early days. This, too, implies this technology isn't about to take over jobs and immediately transform the way business is done.

Now, what does all of this mean for AI investing? If you're buying AI stocks today, you probably should listen to Griffin. AI is just getting started. That means the revolution it promises -- in everything from healthcare to technology -- may take time.

And this revolution doesn't necessarily mean AI will result in higher unemployment rates. Instead, it may actually help workers by making their jobs easier. Already, researchers at companies like Moderna have benefited from AI. The biotech uses AI to develop messenger RNA sequences, saving scientists valuable time.

So, AI actually is a smart place to be if you're a long-term investor. You can get in on promising players early in their AI story and hold on as the technology develops. And that means that if you've bought AI stocks, you haven't been too quick to hop on the bandwagon.