Shopping Muse can also recommend items based on visual similarities using advanced image recognition tools, even if the user can't articulate what they're looking for. While the initial focus is on fashion, the technology could be extended to other categories such as furniture and groceries. Mastercard notes that over a quarter of retailers are already using generative AI solutions, with another 13% planning to adopt them within the next year.
Key takeaways:
- Mastercard is launching a new AI shopping tool called “Shopping Muse” that provides personalized product recommendations based on users' language, trends, and shopping behavior.
- The tool is powered by Dynamic Yield, a personalization company acquired by Mastercard, and uses data from the retailer’s product catalog, shopper’s on-site behavior, and real-time and known preferences.
- Shopping Muse can also recommend items based on visual similarities using integrated advanced image recognition tools, even if the user can't describe what they're looking for.
- Mastercard suggests that this technology could extend into other categories beyond fashion, and notes that more than one in four retailers already use generative AI solutions, with another 13% planning to adopt them in the next year.