Mastercard launches generative AI chatbot to help you shop online

    2023.12.01 | exchangesranking | 172onlookers

    Dynamic Yield by Mastercard, a digital personalization and artificial intelligence subsidiary of Mastercard, announced the launch of its Shopping Muse generative AI chatbot assistant for e-commerce on Nov. 30. 

    The AI system was revealed in a company blog post. According to Dynamic Yield, Shopping Muse is “an advanced generative AI tool that revolutionizes how consumers search for and discover products in a retailer’s digital catalog.”

    Shopping Muse generative artificial intelligence

    Generative AI systems, such as OpenAI’s ChatGPT and DALL-E, are designed to convert colloquial user commands into text, video, audio or even computer code.

    In the case of Shopping Muse, users can make plain-language requests in the context of an online marketplace, and the AI system will generate personalized recommendations via a process Dynamic Yield refers to as algorithmic content matching.

    As Ori Bauer, CEO of Dynamic Yield by Mastercard, described it:

    “Personalization gives people the shopping experiences they want, and AI-driven innovation is the key to unlocking immersive and tailored online shopping. 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.”

    Dynamic Yield by Mastercard

    Mastercard acquired digital personalization firm Dynamic Yield in 2022 from then-owner McDonald’s. Rebranded Dynamic Yield by Mastercard after the acquisition, the company has offices in Tel Aviv, New York, Tokyo, Riga, Barcelona and other locations around the globe.

    It boasts hundreds of clients for its personalization and data services, with a reported 400 brands represented. The company joins Mastercard as it continues a years-long trend of acquiring or partnering with artificial intelligence firms. 

    Related: Mastercard partners with crypto payment firm MoonPay for Web3 services

    As Cointelegraph recently reported, Mastercard has entered into a partnership with Feedzai, an AI firm specializing in financial fraud detection. The firm’s software will be integrated with Mastercard’s proprietary security stack.

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