Mastercard to launch new generative AI shopping tool

The second-largest payment-processing corporation, Mastercard, is set to launch a new generative AI shopping tool called “Shopping Muse”. Powered by Dynamic Yield, this tool is designed to help users get personalised product recommendations. Mastercard acquired this personalisation company in April 2022. Shopping Muse will “revolutionise how customers search for and discover products in a retailer’s digital catalogue” and will soon be available for users. 

The company is providing early access to the tool to selected customers who signed up for it.

Shopping Muse recreates the in-store human experience by translating consumers’ colloquial language into tailored product recommendations, complete with suggestions for coordinating products and accessories. Consumers can use Shopping Muse to explore modern aesthetics, trending looks, dress codes, and unconventional search terms like "cottagecore" or "beach formal" with ease. Shopping Muse recommendations match an individual consumer’s unique profile, intent, and affinity, and builds on the conversation’s context over time to deliver results that perfectly match even the most eccentric query.  Underpinned by Dynamic Yield’s deep personalization capabilities, the solution combines contextual and behavioral insights to produce recommendations that are informed by the retailer’s keywords, visual cues, and the consumer’s own affinity. 

In addition to helping shoppers search by phrase, Shopping Muse can reduce frustration by helping consumers find the perfect item even when they don’t know how to properly describe it in words. Using integrated advanced image recognition tools, retailers can recommend relevant products based on visual similarities to others, even if they lack the right technical tags. The tool also takes into account the shopper’s affinity, based on session browsing history or past purchases, to better estimate future buying intent. With an understanding of the consumer’s affinity and the context of broader collective behavior, the retailer can ensure the suggested items are complementary, not redundant.