OpenAI has also launched the o1-mini model, a more streamlined version designed to offer faster and cheaper reasoning capabilities.

OpenAI's new o1 model uses the chain of thought reasoning to improve the response in complex tasks. It brings a paradigm shift in inference scaling.

RGA points out that one of the primary changes introduced by the o1 model is that it now generates additional questions to address gaps in information. This is particularly relevant to insurance, as it helps reduce the likelihood of hallucinations by prompting the AI to verify its initial responses.