James, I don't think Beretta classifies it as "Gen 1 or 2" PICO. They have performed updates on recent models. personaldefenseworld.com/2016/01/the-next-gen-beretta-pico/#beretta-pico-1-2

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Hi James, Its just the new upgraded model no change in Gen's

Most companies including Beretta do not use Gen 1 or Gen 2 (it mainly a Glock thing) there have been changes to the PICO since it was introduced (like most firearms get changed/improved during production)