The Visa itself will not generate a Green Card, a separate Green Card application will be necessary as the O-1 Visa is a non-immigrant visa and the Green Card (Permanent Residency) is an immigrant visa application.
The O-1 Visa is often used as a quick visa process (taking anywhere from one to four months to process) which allows a person to enter and work on projects that are already established in the relatively near future. The Green Card process on the other hand usually takes much longer, over 1 year most cases.
The O-1 Visa is often times also uses as a stepping stone to a later Green Card application as personas can further increase their standing in their field by participating in upcoming projects, events, or employment in the U.S.
Persons who utilize the O-1 Visa most often apply for a Green Card in the First Employment Based Visa Category which provides distinct advantages over other categories such as being able to apply without having to go through the arduous labor certification process required with most other employment based green card applications.
Immigration is a very complex area of law. It is a lot more than merely filling out forms. You need to retain an immigration attorney to handle all immigration proceedings. This prevents errors that can sometimes prove costly and may even be irreversible. You should always seek to obtain the best attorney that you can afford and not let geographic restrictions stand in the way. Some immigration attorneys will charge a consultation fee, however those that do so, will give full credit if you retain their law firm. Do not let geographic restrictions prevent you from obtaining the best possible attorney. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don’t choose based on price. Good luck.