Mastercard has introduced a new shopping tool that utilizes artificial intelligence, named Shopping Muse, designed to assist users in receiving personalized product recommendations.
The tool utilizes Dynamic Yield, a company specialized in service customization, acquired by Mastercard in April 2022.
The company aims to revolutionize the way customers search for and discover products in digital store listings through the concept of Shopping Muse.
The tool takes everyday language and transforms it into personalized product recommendations. Shopping Muse can understand current trends and expressions.
You can also ask questions to the tool such as “What clothes are suitable for attending a summer wedding?” or “Can you provide recommendations for simple clothing pieces?”
Shopping Muse aims to explore the user’s shopping experience context and address questions directly from them and conversation content, in order to provide personalized recommendations.
Mastercard’s algorithms use data related to a retailer’s product list, as well as the shopper’s behavior on the site like clicking on specific products and adding them to the cart.
Mastercard’s algorithms also analyze the consumer’s expressed desires in an active and recognizable manner.
When the user logs in, the algorithms may consider the user’s previous purchase and browsing history with a specific retailer, linking it to their account by providing their phone number or email address to the cashier.
Shopping Muse can also recommend items even when the user struggles to find specific words to describe what they are looking for.
Mastercard suggests that retailers can recommend related products based on similar visual criteria to other products, even if they do not include the correct technical tags, by using advanced and integrated image recognition tools.
Fashion is the first use case for Mastercard’s new tool, and yet, the company clarifies that this technology can extend to other categories such as furniture and groceries.
The company announced: “Customization allows individuals to have the shopping experience they desire, and smart innovation based on artificial intelligence is a fundamental element in providing an enjoyable and unique shopping experience.”
They added: “We cater to consumer standards and elevate the shopping experience to the next level by harnessing the power of our intelligent generation in Shopping Muse.”
