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OpenAI Releases ChatGPT-4o. Real-Time Reasoning with Audio, Images, Text

AI | May 15, 2024

ChatGPT 4o - OpenAI Releases ChatGPT-4o.  Real-Time Reasoning with Audio, Images, Text

Image: OpenAI, ChatGPT-4o announcement

The Latest Version of ChatGPT Just Dropped Called ChatGPT-4o.  Here's What You Need To Know

OpenAI just released it's latest version called ChatGPT-4o (that's 4 'o' and the 'o' stands for Omni) that introduces several enhancements and new features that are aimed at not only improving productivity and delivering that 'magic in a prompt' but according to the accompanying release video on youtube (see below), one of the focuses of this release is to reduce the friction between person and machine in order to further bring AI to the masses.

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So what can it really do?  Basically, the new version can both input and output images, text, and voice.  It's as if your personal avatar just came to life.  The deployment of GPT-4o, including a desktop application for Mac users, will occur progressively over the upcoming weeks as part of a phased rollout and get this, it will be made available FREE to all.

New Features and Enhancements in ChatGPT-4o

This latest iteration of the AI model comes with improved understanding capabilities, making it more adept at handling complex queries and tasks.

  • ChatGPT-4o offers an expanded model capacity, which significantly improves its ability to generate responses, understand context, and maintain dialogue coherence over longer interactions. This version can grasp finer details and nuances of user queries which is vital for fintech applications dealing with complex financial data and regulations.  It supports more than just text; it can understand and generate image-based responses, which can be particularly useful for interpreting financial graphs or documents visually.

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  • OpenAI's GPT-4o now supports interactions via voice and video, enhancing user engagement through multimodal inputs. The update focuses on minimizing barriers, utilizing sophisticated AI to foster smoother and more natural conversations. GPT-4o is capable of handling live dialogues, simultaneously addressing multiple speakers, and can emulate emotions to enrich interactions.
  • The upgrade boosts performance and response speed in over 50 languages and introduces a Mac desktop version.
  • Apparently, the system can process audio inputs in as little as 232 milliseconds and averages around 320 milliseconds for responses, closely matching the typical human reaction time during conversations.

Should You Stop Paying for ChatGPT Pro?

  • ChatGPT Pro users have access not only to GPT-4 but also to GPT-4o, which includes faster response times and higher message limits compared to the free version.
  • The Pro version offers additional features like advanced data analysis, file uploads, vision capabilities, and web browsing, which are particularly useful for professional or business applications in fintech.

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  • While ChatGPT-4o is available for free with limited capabilities, the Pro version, priced at $20 per user per month, provides a more robust experience, especially useful for heavy users or corporate environments where these advanced features can lead to significant productivity gains.

Example Use Cases for Fintech

Here are some examples of how fintech companies can leverage this technology:

  • Chatbots for Customer Interaction: Fintech companies can utilize ChatGPT-4o to power chatbots that handle customer inquiries, provide account information, and resolve common issues. This can lead to quicker response times and higher satisfaction rates among customers. The AI can understand and process complex customer requests, offering relevant and personalized responses.
  • Smart Transactional Bots: ChatGPT-4o can be integrated into transactional systems to facilitate smarter and more secure transactions. For example, it can be programmed to assist users in completing payment processes, transferring funds, or even suggesting the best financial products based on the user’s spending habits and financial history.

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  • Personalized Financial Advice: Utilizing ChatGPT-4o, fintech companies can develop robo-advisors that provide personalized investment advice based on large volumes of financial data and individual customer profiles. These advisors can analyze market trends, predict investment risks, and offer tailored financial planning services without human intervention.
  • Real-Time Fraud Detection and Prevention: By employing ChatGPT-4o in fraud detection systems, fintechs can enhance their capabilities to identify and prevent fraudulent activities in real-time. The model can analyze transaction patterns and flag anomalies more effectively, thus reducing the risk of financial fraud.
  • Compliance Automation: ChatGPT-4o can assist in automating the compliance processes by keeping track of regulatory changes and ensuring that the company's practices align with current financial laws. This can include generating compliance reports, monitoring transactions for compliance, and even training staff on regulatory requirements.

A few Impressive Use Cases Featured on Youtube

As a personalized Tutor:

Two ChatGPT-4o's Interacting Together in Real-Time:


Tthe introduction of OpenAI's GPT-4o marks an exciting era for fintech innovation. Its adoption and integration into financial services will undoubtedly unlock new capabilities and lead to substantial advancements in how financial services are delivered and experienced by consumers.

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While we celebrate these technological advances, NCFA Canada also emphasizes the importance of ethical and environmental considerations and the responsible use of AI technologies like GPT-4o. We advocate for ongoing dialogue among stakeholders to address potential risks and ensure that these technologies are used in a manner that benefits all participants in the financial ecosystem.

NCFA Jan 2018 resize - OpenAI Releases ChatGPT-4o.  Real-Time Reasoning with Audio, Images, TextThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

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