ChatGPT 4o.1 Series: What’s the Real Value for Your Small Business?

We know you might have heard a lot about the ChatGPT 4o1 series or are even using it already, but do you know what it’s truly best at for your small business?

Why should you care, you may ask? Well, we’ll put it this way: just because a tool can do a bunch of things doesn’t mean it’s great at everything. Think of it like using a Swiss Army knife to cut wood—it can do it, it can do the job, but wouldn’t you rather grab a saw to save time and money? After all, time is money!

Well, the same idea applies to AI models: use them for what they’re built for, and you’ll get way better results. Otherwise, you might run into some hidden downsides that could hold back the gains you’re aiming for.

So, even if you’re not a tech expert, (and you don’t need to be actually!), If you’re looking to harness Generative AI to boost your productivity, cut costs, or up your value creation game, getting a handle on this model’s strengths is super important for both performance and ROI.

So, what can you take away today? How can you best use ChatGPT 4o1 to boost your small business? Let’s jump right in!

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So, GPT 4.o1: What's It Really About?

It may sound cliché put like this but: AI is advancing faster than ever; and we can’t stop talking about it because it’s a big deal!

One typical example of it? Just four months after OpenAI dropped the flagship GPT-4.0 model, they were  already back with a new version—GPT-4.01, available in two options: the mini and the preview. Things are moving so fast.

So, what’s the deal with the 4o1 series? And, more importantly, how can you make these models work for your small business?

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[fs-toc-omit]But First—Let’s Go Back to ChatGPT 4.0

But first, we think it would be helpful to do a quick refresher on the GPT-4.o flagship model, just to make sure we’re all on the same page.

GPT-4.o—where ‘o’ stands for ‘omni’—was released in May 2024, and this model represents a huge leap in how AI interacts with us. There are two big reasons for this: the omni aspect and the Voice Mode performance.

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[fs-toc-omit]O for Omni: What That Really Means

First, let’s talk about the ‘omni’ aspect. It means that GPT-4.o can process various input types—text, audio, images, and even video— and can generate responses in a mix of those formats. So, unlike older models that mostly stuck to text, GPT-4.o responds to voice or images just as easily as it does to typed questions.

One cool example of these new capabilities is how GPT-4.o can now play rock-paper-scissors. Remember that classic game we all plaid at least once, and maybe still play with kids? Nothing more natural for us: it’s all about picking a sign, showing it, and seeing who wins—or if it’s a tie.

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But for the AI, it’s a big deal: it has to process visual inputs, understand context, and make decisions, all in real time. And it’s doing it flawlessly, as OpenAI has shown. That’s pretty impressive!

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[fs-toc-omit]Where Performance Gets a Voice

Now, let’s talk a bit about Voice Mode performance. GPT-4o can respond to audio almost as quickly as you’d expect in a real conversation. To make this happen, it teams up with two other models: one that turns audio into text, GPT-4 processes that text, and then a final model converts it back into audio. This speedy response time is a big upgrade from earlier models, making chats with AI feel way more natural and fluid—kind of like having a back-and-forth with a real person.

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And there’s one more thing to add, and it’s not the least: it’s also 50% cheaper in API costs and works better with non-English languages. So, in a nutshell, GPT-4.o brings interesting opportunities for small businesses, because it’s quite an affordable model packed with advanced features.

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[fs-toc-omit]Why ChatGPT-4.0’s ‘O1’ Matters

So, now that we’ve got a good grasp on GPT-4.o, let’s move to the GPT-4.o1 family that launched in September 2024. The question is, what makes it special?

Two main things actually: first, its reasoning capabilities, and second, its knack for explaining things.

And according to OpenAI, these capabilities are bringing them closer to their goal of achieving human-like intelligence. Is it ever possible —well that’s another question, and there’s a lot to say about it.  What’s your take on it? We’re really curious (let’s kick off the conversation in Discord).

But, for now, let’s quickly dig into these capabilities

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[fs-toc-omit]Huhuh, GPT 4o1 does reason

First up, we have the reasoning capabilities. These models are designed to tackle complex questions and do so with incredible speed.

To give you a sense of how impressive this is, GPT-4.o1 scored about 120 on the Norway Mensa IQ test, solving 25 out of 35 tricky questions—thus, beating out most humans! For instance, it figured out patterns in a grid, which takes some serious problem-solving skills. Sure, it might tackle some problems a bit differently than we do, but it usually gets to the right answer.

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And here’s the kicker: this impressive performance isn’t just based on pre-existing data. In a test with custom questions never seen before, GPT-4.o1 still performed exceptionally well, showing it can adapt to new challenges on the fly.

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[fs-toc-omit]Beyond reasoning, actually, explaining the logic behind!

Now, these reasoning skills come with another major win: when the o1 models tackle complex tasks, they don’t just throw out answers; they explain their reasoning, making it way easier for you to understand, trust, and control their outputs.

So, basically, o1 is a big step up, especially for tasks that need some serious reasoning, like coding, legal analysis, and tricky math problems.

Okay, we can practically hear you thinking: what’s in this for you as a small business leader? Just hang tight—we’ll dive into that in a sec!

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[fs-toc-omit]Let's talk limits—Mind the Drawbacks

But before we jump into the cool stuff about the o1 models for your small biz, I need to mention the downsides of the 4o1 series. Because, It’s super easy to get caught up in the strengths, but to really help you thrive, it’s important to understand the weaknesses as well.

Being aware of these challenges is crucial for using AI effectively in your small business, so you can stay in control and make the best decisions.

So, let’s break down three notable drawbacks of o1: hallucinations, latency, and price.

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[fs-toc-omit]Hallucinations:

One big concern with o1 is the rise of “hallucinations.” This is when the model confidently gives incorrect info, which can be pretty misleading. Unlike GPT-4.o, o1 sometimes serves up wrong answers with way too much confidence. It shows there’s still room for improvement before it can really nail it every time. That’s why it’s for now, GPT 4o1 labeled as “preview”—it means that it’s got potential, but it’s still a work in progress.

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[fs-toc-omit]Latency:

Another thing to keep in mind is latency. Some users have found that o1 can be a bit slow, with certain queries taking over 10 seconds to process. While it’s not a dealbreaker, this delay can mess with the flow of tasks that need quick responses.

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[fs-toc-omit]Price:

And lastly, o1 is pricier than GPT-4.o. So, concretely, the higher cost for API access combined with its slower performance could make it a tough fit for some small businesses or solo entrepreneurs.

Does that sound like bad news? Not at all! This is where things get exciting for your small business.

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[fs-toc-omit]o1-mini's got your back

To tackle the issues of price and speed with the 4o1 model, OpenAI rolled out the o1-mini

The Mini is priced at just 15 cents per million input tokens and 60 cents per million output tokens—making it over 60% cheaper than GPT-3.5 Turbo and way more budget-friendly than older models.

Hey, I know talking about tokens can feel a bit dull, but bear with me! This stuff is actually pretty important for your small biz!

To give you a clearer picture, the number of tokens in a typical chat can change based on how long or complex the conversation is. So, for quick questions, you might use around 100 to 300 tokens, while more detailed interactions can easily hit 1,000 tokens or more. On average, each word in English is about 1.33 tokens, so a regular 750-word piece of text is roughly 1,000 tokens. See? It’s not as boring when you realize how it affects your bottom line!

So, to wrap it up, the mini hits that sweet spot between performance and affordability. It’s a ‘small’ model that uses fewer tokens, which means lower costs but still has enough power to tackle complex tasks. It’s awesome for text-based stuff, but it also does pretty well with reasoning, math, coding, and multi-step problem-solving—super impressive, especially when stacked against the bigger models!

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Let’s Get Real—What Does It Mean for Your Business?

Alright, here’s the part you’ve probably been waiting for: the use cases!

GPT-4.o mini really excels in three main categories of applications:

1. Those that need Fast, Real-Time Interactions
2. Those that require Chained or Parallel Model Calls
3. Those that involve Large Contextual Data Processing

Sounds too techie? Stick with me, and I’ll make it simple and relevant for you

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[fs-toc-omit]Fast, real-time interactions:

The GPT-4.o mini is perfect for situations where you need quick, real-time text interactions.

For example, imagine a customer service chatbot for your business. With older models, you often face lags and generic responses—two things that can really frustrate your customers and lead to missed sales.

With GPT-4.o mini, you get a solution that responds instantly and delivers accurate information with an emotional touch. This means your customers feel more valued, leading to higher conversions, and that operations are smoother—all without draining your budget.

So, if you’re thinking about adding or upgrading your website chatbot, GPT-4.o mini is definitely the way to go!

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[fs-toc-omit]Chained or Parallel Model Calls:

Now, chained or paralleled model calls. This is where the mini variant really stands out! It’s built to handle multiple tasks at once or connect several model calls together. That means you can automate more complex interactions without juggling a bunch of different systems or tools.

Let’ me give you an example.

Picture this: a virtual assistant for your small business that grabs client data, sales figures, and inventory levels from all over, analyzes everything, sets some benchmarks, and then hands you an easy-to-read report about your sales—all in one smooth chat. Pretty handy, right?

And here’s another cool example for marketing: your virtual assistant can pull real-time campaign performance data from your social media, combine it with a search on current trends, compare it with your competitors, and analyze everything to suggest tweaks on the spot. This way, you can optimize your campaigns right away without getting lost in spreadsheets or flipping through multiple dashboards.

So, whenever you need to simplify processes that involve juggling multiple tasks and integrating external tools, ChatGPT-4.o1 is a super cost-effective solution!

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[fs-toc-omit]Large Contextual Data Processing:

Third application area: large contextual data processing. GPT-4.o mini is your go-to when you need to tackle a large volume of information and context, like detailed reports or long project proposals.

For example, picture this: you’re running a small consulting firm and you’ve got a stack of client contracts or project agreements to review. Instead of sifting through pages of text, just upload the whole document to GPT-4.o mini. It’ll quickly summarize the key terms, flag any potential   , and even suggest some edits. This way, you can manage multiple contracts with ease.

It means saving precious time, avoiding the chance of missing important details, and getting back to what really matters—growing your business and serving your clients.

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[fs-toc-omit]So, to wrap it up, GPT-4.o mini is perfect for:

→ Quick, real-time text interactions.

→ Handling multiple tasks and calls to external tools all at once.

→ Processing large chunks of information effectively.

With GPT-4.o mini, you can save money while keeping the power, quality, and accuracy you need.

By the way, if you would like to dig into a specific case and see if GPT-4.o mini is a good match for you, let’s chat over in our Discord community, The New Small Biz.

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How to Actually Work with GPT-4o1

Alright, we like to keep our promises, so to wrap up our focus, here are some tips to help you avoid any pitfalls with GPT-4.o1.

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[fs-toc-omit]First thing first: Prioritize the Right Use Cases

Nail down the areas where GPT-4.o1’s speedy responses, cost-effective token usage, and smooth handling of text interactions can make a real difference, with typical applications like customer chatbots, scheduling and follow-ups, or reporting —essentially, any application where real-time engagement or quick, multi-step processes are key.

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[fs-toc-omit]Second: Watch for Hallucinations

As I mentioned earlier when we talked about the downsides, every now and then, GPT-4.o1 might confidently present some incorrect information.

So, you need to pro-actively handle it:

• Double-Check Important Outputs: Always give AI-generated content a once-over, especially when it really matters.
• Draft, Don’t Finalize: Use AI to brainstorm and whip up initial drafts, but make sure a human takes a look before you hit send.

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[fs-toc-omit]Watch Out for the Emotional Hook

When you’re using GPT-4.o1, especially with its voice feature, keep an eye on the emotional risks. OpenAI has pointed out that people might start to feel a connection with the AI because of its surprisingly human-like voice. This phenomenon, called anthropomorphization, can lead to misplaced trust, especially if the AI provides inaccurate information or “hallucinates” a bit.

I know it might sound exaggerated, but consider the impact of a pleasant voice versus one that’s less appealing; we’re human, after all.

OpenAI highlights this in their safety analysis, noting that users might lean too much on AI when it sounds so human.

So, as a small or solo business owner, it’s crucial to remember that AI is a tool. Keep some distance and maintain objectivity, even if it says things nicely.

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Conclusion

And that’s a wrap for this focus! we hope it helped you get a better grip on how to make the most of the ChatGPT 4o1 models, especially the mini one. If you’ve got questions, want to chat about something specific, or dive into a use case, let’s keep the convo rolling in our Discord Community, just for small and solo business leaders like you!