Mastercard applies generative AI to customer search requests
A new artificial intelligence (AI) solution from Dynamic Yield by Mastercard tailors product recommendations around colloquial language.
The Dynamic Yield by Mastercard Shopping Muse tool combines contextual and behavioral insights to produce recommendations that are based on the retailer’s keywords, visual cues, and the consumer’s own personal intent and affinities. For example, a customer could receive personalized product suggestions based on search terms such as “cottagecore” or “beach formal.”
The solution is based on generative AI, which uses machine learning (ML) capabilities to create new content and ideas, including conversations, stories, images, videos and music.
Shopping Muse recommendations are designed to match an individual consumer’s unique characteristics and builds on the conversation’s context over time to hone search results and match unusual queries. It analyzes session browsing history and/or past purchases to better estimate an individual shopper’s future buying intent, and also takes broader shopper trends into account.
Using integrated image recognition tools, retailers can also leverage the solution to recommend relevant products based on visual similarities to others, even if they lack the right technical tags. Other organizations including Walmart and Google have also released generative AI-based natural language search offerings.
“Solutions like Shopping Muse are the next natural step in the retail revolution and are core to putting the consumer back at the center of the journey,” said Raj Seshadri, president of data & services at Mastercard. “At Mastercard, we’re putting technology and machine learning to work to deliver better outcomes for both brand and consumer.”
“Personalization gives people the shopping experiences they want, and AI-driven innovation is the key to unlocking immersive and tailored online shopping,” said Ori Bauer, CEO of Dynamic Yield by Mastercard. “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.”
[Read more: Exclusive Q&A: Mastercard says personalization hinges on loyalty]
Dynamic Yield, a Mastercard company, provides solutions designed to deliver digital customer experiences that are personalized, optimized and synchronized.