ChatGPT, a conversational AI interface that utilizes natural language processing and machine learning algorithms, is taking the world by storm and is the buzzword across many sectors today. Given the likely impact of this model on data science, through this perspective article, we seek to provide an overview of the potential opportunities and challenges associated with using ChatGPT in data science, provide readers with a snapshot of its advantages, and stimulate interest in its use for data science projects. The paper discusses how ChatGPT can assist data scientists in automating various aspects of their workflow, including data cleaning and preprocessing, model training, and result interpretation. It also highlights how ChatGPT has the potential to provide new insights and improve decision-making processes by analyzing unstructured data. We then examine the advantages of ChatGPT’s architecture, including its ability to be fine-tuned for a wide range of language-related tasks and generate synthetic data. Limitations and issues are also addressed, particularly around concerns about bias and plagiarism when using ChatGPT. Overall, the paper concludes that the benefits outweigh the costs and ChatGPT has the potential to greatly enhance the productivity and accuracy of data science workflows and is likely to become an increasingly important tool for intelligence augmentation in the field of data science. ChatGPT can assist with a wide range of natural language processing tasks in data science, including language translation, sentiment analysis, and text classification. However, while ChatGPT can save time and resources compared to training a model from scratch, and can be fine-tuned for specific use cases, it may not perform well on certain tasks if it has not been specifically trained for them. Additionally, the output of ChatGPT may be difficult to interpret, which could pose challenges for decision-making in data science applications.

Artificial intelligence (AI) is a rapidly growing technological phenomenon that all industries wish to exploit to benefit from efficiency gains and cost reductions. At the macrolevel, AI appears to be capable of replacing humans by undertaking intelligent tasks that were once limited to the human mind. However, another school of thought suggests that instead of being a replacement for the human mind, AI can be used for intelligence augmentation (IA). Accordingly, our research seeks to address these different views, their implications, and potential risks in an age of increased artificial awareness. We show that the ultimate goal of humankind is to achieve IA through the exploitation of AI. Moreover, we articulate the urgent need for ethical frameworks that define how AI should be used to trigger the next level of IA.

Text mining in big data analytics is emerging as a powerful tool for harnessing the power of unstructured textual data by analyzing it to extract new knowledge and to identify significant patterns and correlations hidden in the data. This study seeks to determine the state of text mining research by examining the developments within published literature over past years and provide valuable insights for practitioners and researchers on the predominant trends, methods, and applications of text mining research. In accordance with this, more than 200 academic journal articles on the subject are included and discussed in this review; the state-of-the-art text mining approaches and techniques used for analyzing transcripts and speeches, meeting transcripts, and academic journal articles, as well as websites, emails, blogs, and social media platforms, across a broad range of application areas are also investigated. Additionally, the benefits and challenges related to text mining are also briefly outlined.

Blockchain is disrupting the banking industry and contributing to the increased big data in banking. However, there exists a gap in research and development into blockchain-ed big data in banking from an academic perspective, and this gap is expected to have a significant negative impact on the adoption and development of blockchain technology for banking. In hope of motivating more active engagement by academics, researchers and bankers alike, we present the most comprehensive review of the impact of blockchain in banking to date by summarizing the opportunities and challenges from a bankers perspective. In addition, we also discuss the impact that big data from blockchain will have on banking data analytics in future and show the increasing importance of filtering and signal extraction for the banking industry. Whilst there is evidence of selected banks adopting blockchain technology in isolation or small groups, we find the need for extensive research and development into several aspects of banking with blockchain to overcome the challenges which are currently hindering its adoption in banking across the globe.

Over the last few decades, our digitally expanding world has experienced another significant digitalization boost because of the COVID-19 pandemic. Digital transformations are changing every aspect of this world. New technological innovations are springing up continuously, attracting increasing attention and investments. Digital twin, one of the highest trending technologies of recent years, is now joining forces with the healthcare sector, which has been under the spotlight since the outbreak of COVID-19. This paper sets out to promote a better understanding of digital twin technology, clarify some common misconceptions, and review the current trajectory of digital twin applications in healthcare. Furthermore, the functionalities of the digital twin in different life stages are summarized in the context of a digital twin model in healthcare. Following the Internet of Things as a service concept and digital twining as a service model supporting Industry 4.0, we propose a paradigm of digital twinning everything as a healthcare service, and different groups of physical entities are also clarified for clear reference of digital twin architecture in healthcare. This research discusses the value of digital twin technology in healthcare, as well as current challenges and insights for future research.

This paper introduces a complement statistical test for distinguishing between the predictive accuracy of two sets of forecasts. We propose a non-parametric test founded upon the principles of the Kolmogorov-Smirnov (KS) test, referred to as the KS Predictive Accuracy (KSPA) test. The KSPA test is able to serve two distinct purposes. Initially, the test seeks to determine whether there exists a statistically significant difference between the distribution of forecast errors, and secondly it exploits the principles of stochastic dominance to determine whether the forecasts with the lower error also reports a stochastically smaller error than forecasts from a competing model, and thereby enables distinguishing between the predictive accuracy of forecasts. We perform a simulation study for the size and power of the proposed test and report the results for different noise distributions, sample sizes and forecasting horizons. The simulation results indicate that the KSPA test is correctly sized, and robust in the face of varying forecasting horizons and sample sizes along with significant accuracy gains reported especially in the case of small sample sizes. Real world applications are also considered to illustrate the applicability of the proposed KSPA test in practice.