- MasterCard’s AI subsidiary, Dynamic Yield, launches AI-powered personal shopping assistant, Shopping Muse.
- Shopping Muse uses natural language and contextual recommendations to deliver personalized shopping experiences.
- Over 25% of retailers use generative AI, with an additional 13% planning to adopt it next year, says MasterCard.
Just a few days after Amazon announced its entrance into the artificial intelligence race, credit card giant MasterCard has joined the fray. A digital personalization and AI subsidiary of Mastercard has launched its own shopping assistant.
On November 30, Dynamic Yield by Mastercard unveiled a new generative AI-powered personal shopping assistant called Shopping Muse.
According to the announcement, the generative AI assistant helps consumers search for and discover products in a retailer’s catalog using natural language and contextual recommendations.
Shopping Muse “re-creates the in-store, human experience by translating consumers’ colloquial language,” it read. It returns tailored product recommendations, complete with suggestions for coordinating products and accessories.
MasterCard also claims that the AI assistant chatbot can match an individual consumer’s unique profile, intent, and affinity. Moreover, it “builds on the conversation’s context over time to deliver results that perfectly match even the most eccentric query.”
The system also uses integrated advanced image recognition tools. This allows retailers to recommend relevant products based on visual similarities to others rather than text descriptions.
Raj Seshadri, President of Data and Services at Mastercard said,
“We’re putting technology and machine learning to work to deliver better outcomes for both brand and consumer.”
Dynamic Yield CEO Ori Bauer added, “Personalization gives people the shopping experiences they want.” AI-driven innovation is the key to unlocking immersive and tailored online shopping, he said before adding:
“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.”
Over 25% of retailers already use generative AI, with 13% more planning to adopt it next year, according to MasterCard.