Mastercard introduces Shopping Muse: Advancing online retail with AI-driven personalization

04/12/2023 News

Dynamic Yield by Mastercard introduces Shopping Muse, an advanced generative AI tool reshaping the digital retail landscape. This innovative solution employs sophisticated personalization to interpret casual language, delivering tailored product recommendations and suggestions for coordinating items. Shopping Muse recreates the in-store experience, allowing users to effortlessly explore modern aesthetics, trending looks, and unconventional search terms.

The tool's recommendations are finely tuned to match each consumer's unique profile, intent, and affinity. Leveraging contextual and behavioral insights, Shopping Muse refines its suggestions over time, ensuring precise matches for even the most eccentric queries. Advanced image recognition enhances the recommendation process, considering visual similarities and the shopper's affinity to estimate future buying intent accurately.

Raj Seshadri, President of Data & Services at Mastercard, underscores the significance of solutions like Shopping Muse in placing consumers at the center of the retail journey, utilizing technology and machine learning for optimal outcomes.

Shopping Muse addresses the challenge of helping consumers find the perfect item when verbal descriptions fall short. Retailers can recommend products based on visual cues, even in the absence of specific technical tags. The tool aims to deliver a more immersive and tailored online shopping experience by harnessing the power of generative AI.

Ori Bauer, CEO of Dynamic Yield by Mastercard, emphasizes the role of AI-driven innovation in providing personalized online shopping experiences. The integration of generative AI in Shopping Muse aligns with consumer expectations, making the shopping process smarter and more seamless.

As retailers navigate evolving trends and heightened consumer expectations, technology adoption becomes crucial. Presently, over one in four retailers are using generative AI solutions, with an additional thirteen percent planning to embrace them in the coming year. Mastercard's 2022 acquisition of Dynamic Yield strengthens its suite of consumer engagement and loyalty services, adhering to privacy safeguards and responsible AI principles.

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