Mastercard wants to use AI to personalize the retail shopping experience with their new Shopping Muse service. Launched under its Dynamic Yield division, Shopping Muse aims to replicate an in-store shopping experience using advanced artificial intelligence capabilities.
The tool allows consumers to search for products using natural language, trending terms like "cottagecore" or "beach formal," or even vague descriptions. Shopping Muse then provides tailored recommendations suited to each customer's preferences and profile.
As Dynamic Yield CEO Ori Bauer explained, "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."
Shopping Muse sets out to resolve consumer frustration with ineffective or overwhelming search results. The AI assistant interprets queries based on contextual clues and the individual's affinity data, gleaned from browsing history and past purchases. It then suggests complementary items informed by wider consumer behavior patterns.
This level of personalization brings back the human touch missing from much of e-commerce today. Shopping Muse even uses advanced image recognition to match products visually when keywords fail.
As Raj Seshadri, President of Data & Services at Mastercard stated, “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.”
With over 25% of retailers already employing AI-powered solutions and more considering adoption, Mastercard is leveraging leading-edge technology at an opportune time. Its acquisition of personalization leader Dynamic Yield last year strengthened its ability to enable trusted, effective experiences across channels.
Shopping Muse is particularly beneficial for industries with large, diverse product catalogs, such as fashion and furniture. Its easy-to-integrate, plug-and-play nature makes it a practical choice for retailers seeking to enhance their digital presence. With the ability to tailor the tool based on individual customer profiles, Shopping Muse stands out in the market for its depth of personalization and recommendation capabilities.
And with its focus on privacy and responsible AI principles, Mastercard is promoting broadly ethical standards for retail AI. This balanced approach bodes well for Shopping Muse's reception among wary consumers.
As the retail industry continues its rapid transformation through technology, Mastercard's latest launch looks to tap into a clear appetite for more personalized, humanized online shopping. And for many frustrated shoppers, AI assistance can't arrive soon enough.