Source: AutoGPT

OpenAI continues to push the boundaries of artificial intelligence with the launch of its new AI models, o1-preview and o1-mini. These models bring a new level of reasoning ability to tasks that require deep thought and analysis, such as legal briefs, coding, and strategic planning. According to OpenAI, o1 models have been designed using advanced reinforcement learning techniques that allow them to process complex information and make more informed decisions. This is a major leap for industries like law, where AI is increasingly used for legal research, contract drafting, and compliance.

However, the advanced reasoning capabilities come with notable trade-offs. The o1 models take significantly longer to generate responses compared to their predecessors, with an average response time of 10 seconds. Additionally, the cost of using these models is higher, priced at $15 per 1 million input tokens and $60 per 1 million output tokens. For fast-paced environments, this delay in response time might be a challenge, but the enhanced accuracy makes it an attractive option for industries that prioritise precision over speed, such as legal services.

For legal tech, OpenAI o1 could transform the way legal teams approach contract reviews, regulatory compliance, and due diligence. By allowing AI to "think" more critically before delivering answers, law firms and in-house legal departments can streamline workflows and improve the quality of their legal output. Although the cost may be prohibitive for smaller firms, larger organisations that need high-quality, AI-driven solutions may find the investment worthwhile, giving them a competitive edge in a rapidly evolving industry.

Read More: AutoGPT