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The rapid advancement of generative AI (GenAI), foundation models (large language models in particular), and deep learning more broadly has ushered in a new era of data science, fundamentally transforming how organizations and individuals approach problem-solving and analytics. These technologies are presenting remarkable opportunities and significant research challenges for the INFORMS community. This special issue seeks to explore their transformative potential across three areas: innovative applications in data science, understanding GenAI, LLMs, and Deep Learning in a practical context, and societal impact and policy implications.