Mastercard has announced the launch of its innovative generative AI shopping tool, “Shopping Muse,” aiming to revolutionize the way users explore and discover products in digital catalogs. Powered by Dynamic Yield, a personalization company acquired by Mastercard in April 2022, Shopping Muse utilizes advanced algorithms to provide personalized product recommendations based on users’ colloquial language and modern trends.
The tool enables users to ask questions in natural language, such as “What should I wear for a summer wedding?” or “Can you recommend pieces for a minimalist capsule wardrobe?” Shopping Muse analyzes the context of the user’s shopping experience, direct questions, and conversation content to deliver tailored suggestions. It leverages data from the retailer’s product catalog, on-site behavior, real-time preferences, and known consumer preferences.
Shopping Muse goes beyond text-based queries, employing integrated advanced image recognition tools. Retailers can recommend relevant products based on visual similarities, even in cases where users struggle to describe what they are looking for. Although initially focused on fashion, Mastercard anticipates extending the technology to other categories like furniture and grocery.
Ori Bauer, CEO of Dynamic Yield by Mastercard, emphasized the significance of AI-driven innovation in providing immersive and tailored online shopping experiences. He stated, “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.”
Highlighting the need for retailers to embrace technology, Mastercard emphasized that over one in four retailers already use generative AI solutions, with an additional 13% planning to adopt them in the next year. The company urged adaptation to changing demands and noted that personalization through AI-driven technology is crucial for meeting consumer expectations.
As part of a broader trend in AI-powered shopping tools, Google now enables users to receive AI-generated gift recommendations on Search, while Microsoft’s Bing automatically generates buying guides for queries like “college supplies.” Industry experts, as reflected in a recent Gartner report, predict that 80% of customer service and support organizations will integrate generative AI technology in some form by 2025. The release of Shopping Muse signifies a significant addition to the evolving landscape of AI-driven shopping solutions.