Dynamic Yield, which focuses on personalized products, was acquired by Mastercard in April 2022. Following the acquisition, Dynamic Yield completed Shopping Muse, one of its first projects for Mastercard. This tool, announced by Mastercard, offers personalized shopping recommendations to its customers using generative artificial intelligence.
It seems that Mastercard has high expectations from Shopping Muse, presenting its new artificial intelligence tool as “will revolutionize the way customers search and discover retailers’ digital catalogues.” With the new tool, searches made by users in everyday language turn into product recommendations specifically selected for their wishes. The AI tool can also understand trending trends and expressions. In other words, when expressions such as “Vintage cottagecore dress” are used instead of “1970s rural American style dress” when describing the desired products, artificial intelligence can analyze what is meant.
Mastercard believes Shopping Muse will revolutionize
For personalized recommendations, Shopping Muse acts based on the user’s shopping history, the answers to the questions they ask, and the overall content of the chat. The algorithms use information contained in retailers’ product catalogs and data from the customer’s on-site behavior. These algorithms also observe the customer’s real-time and known behavior.
When users log in to a retailer’s site, the algorithms evaluate past purchases and even physical expenses made at that store that can be tracked (for example, by entering a phone number or using a Mastercard). Shopping Muse can also offer alternatives even if the user cannot describe exactly what they want. In addition, products that are visually similar to the searched products but are not labeled with the necessary labels may also be among the recommendations.
Although the use of Shopping Muse is limited to fashion for now, Mastercard states that this feature can also be used for grocery or furniture shopping in the future.
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