News Report Technology
December 01, 2023

Mastercard Introduces AI Chatbot ‘Shopping Muse’ to Boost Holiday Shopping Experiences

Mastercard Introduces AI Chatbot Shopping Muse for Enhanced Consumer Experience

Dynamic Yield — a subsidiary of Mastercard that specializes in digital personalization and artificial intelligence (AI), unveiled its new generative AI chatbot assistant, Shopping Muse. Designed for e-commerce, Shopping Muse aims to assist consumers in searching and discovering products within digital catalogs of retailers.

The AI assistant enables users to make language requests within the context of a particular online marketplace, and translating them into personalized product recommendations through the AI’s algorithmic content matching. 

Beyond simple phrase-based searches, the chatbot can recommend relevant products based on visual similarities, assisting users in finding the perfect item even without specific technical tags. The tool considers the shopper’s affinity, incorporating session browsing history or past purchases to better estimate future buying intent. 

Through Shopping Muse, users can explore modern aesthetics, trending looks, dress codes and unconventional search terms.

“Solutions like Shopping Muse represent the next natural step in the retail revolution and are fundamental to placing the consumer back at the center of the journey. At Mastercard, we’re leveraging technology and machine learning to achieve better outcomes for both the brand and the consumer,” said Raj Seshadri, President of Data & Services at Mastercard, in a written statement.

Mastercard acquired digital personalization firm Dynamic Yield in 2022, rebranding it as “Dynamic Yield by Mastercard”.

The company with offices worldwide has gained hundreds of clients for its personalization and data services, representing 400 brands. This acquisition aligns with Mastercard’s ongoing strategy of partnering with or acquiring artificial intelligence firms.

Generative AI is Set to Elevate Customer Experiences

According to the Gartner report, “by 2026, more than 80% of enterprises will have utilized generative AI APIs or models, or implemented generative AI-enabled applications in production environments, up from less than 5% in 2023.”

Generative AI is positioned to significantly enhance consumer experiences, enabling organizations to meaningfully engage customers and strengthen relationships.

In the recent development, Amazon introduced the Amazon Personalize Content Generator, a new tool powered by generative AI that assists companies in creating more compelling recommendations by identifying thematic connections among the suggested items.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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