In a groundbreaking move aimed at enhancing the online shopping experience, Dynamic Yield by Mastercard, a digital personalization and artificial intelligence subsidiary of Mastercard, unveiled its latest innovation – the Shopping Muse generative AI chatbot assistant. The announcement, made through a company blog post on November 30, introduces a cutting-edge tool designed to revolutionize how consumers navigate and discover products within a retailer’s digital catalog.
Shopping Muse, described by Dynamic Yield as an “advanced generative AI tool,” leverages the power of generative AI to interpret colloquial user commands within the context of an online marketplace. Users can make plain-language requests, and the AI system employs algorithmic content matching to generate personalized recommendations tailored to individual preferences.
Ori Bauer, CEO of Dynamic Yield by Mastercard, emphasized the significance of AI-driven innovation in delivering immersive and tailored online shopping experiences. “Personalization gives people the shopping experiences they want, and AI-driven innovation is the key to unlocking immersive and tailored online shopping,” stated Bauer. “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’s acquisition of Dynamic Yield in 2022 from its previous owner, McDonald’s, marked a strategic move into the realm of digital personalization. The rebranded Dynamic Yield by Mastercard has since become a global player, with offices in Tel Aviv, New York, Tokyo, Riga, Barcelona, and more. With over 400 brands represented among its hundreds of clients for personalization and data services, the company continues to shape the landscape of online retail.
This announcement comes as part of Mastercard’s broader strategy to collaborate with artificial intelligence firms. In addition to the acquisition of Dynamic Yield, Mastercard has recently partnered with Feedzai, an AI company specializing in financial fraud detection. This partnership aims to integrate Feedzai’s advanced software into Mastercard’s proprietary security stack, further fortifying the company’s commitment to technological innovation in the digital era.
