Dive Brief:
- Dynamic Yield by Mastercard has launched Shopping Muse, a generative artificial intelligence tool that translates colloquial language into tailored product recommendations, the company announced on Nov. 30. Mastercard acquired Dynamic Yield, a personalization platform and decision engine, last year.
- Using the tool, shoppers can search for products using search terms such as “cottagecore” or “beach formal” and receive product recommendations based on their demographic profile, intent, purchase history and other traits, per the press release.
- The service also uses image recognition technology to find relevant products.
Dive Insight:
With the launch of Shopping Muse, Mastercard aims to capitalize on the interest among retailers to create a tailored experience using generative AI technology.
“Personalization gives people the shopping experiences they want, and AI-driven innovation is the key to unlocking immersive and tailored online shopping,” Ori Bauer, CEO of Dynamic Yield by Mastercard, said in a statement. “By harnessing the power of generative AI in Shopping Muse, we’re meeting the consumer’s standards and making shopping smarter and more seamless than ever.”
Mastercard now stands in a growing line of major companies using generative AI capabilities to enhance their operations. In October, Walmart added artificial intelligence to enhance its search function, help customers with complicated purchases, summarize reviews, and assist shoppers with prioritizing product features. The retailer also said it began using generative AI and AR technology to assist shoppers in designing their spaces based on aesthetic, budget and other criteria.
Last month, Google debuted its Search Generative Experience, a tool that uses generative AI to improve its search capabilities to provide use consumers with their desired product recommendations. That same month, the retail and real estate firm Simon introduced its HolidAI tool, which uses AI to match shoppers with their desired gift items.
Mastercard purchased Dynamic Yield from McDonald’s last year for an undisclosed sum. McDonald’s previously bought the company in 2019.
