Core Insights - OpenAI has launched an upgraded version of ChatGPT's image functionality, significantly improving image generation quality, speed, and editing precision, posing a challenge to Google's Nano Banana models and Adobe Photoshop [1][4]. Group 1: Image Generation and Editing - The new ChatGPT image model allows for precise editing while maintaining detail integrity, with generation speeds increased by up to 4 times [4]. - Key enhancements include the ability to perform various types of precise edits such as adding, deleting, merging, blending, and transposing elements in images [4]. - Examples of the model's capabilities include modifying clothing colors, adding characters, and integrating fantastical elements into images [5][9]. Group 2: Text and Creative Transformations - The model has made advancements in generating text-rich diagrams, challenging Google's traditional strengths in this area [11]. - It can creatively transform existing images, such as altering a CEO's photo to resemble a 1980s aerobics instructor or integrating faces into famous artworks [12]. Group 3: Cost Efficiency - The upgraded GPT Image 1.5 model has reduced input and output costs by 20% compared to its predecessor, GPT Image 1 [16].