Just a few days after Amazon announced its entrance into the artificial intelligence race, credit card giant MasterCard has joined the fray. A digital personalization and AI subsidiary of Mastercard has launched its own shopping assistant.
On November 30, Dynamic Yield by Mastercard unveiled a new generative AI-powered personal shopping assistant called Shopping Muse.
MasterCard Heats Up Artificial Intelligence Race
According to the announcement, the generative AI assistant helps consumers search for and discover products in a retailer’s catalog using natural language and contextual recommendations.
Shopping Muse “re-creates the in-store, human experience by translating consumers’ colloquial language,” it read. It returns tailored product recommendations, complete with suggestions for coordinating products and accessories.
MasterCard also claims that the AI assistant chatbot can match an individual consumer’s unique profile, intent, and affinity. Moreover, it “builds on the conversation’s context over time to deliver results that perfectly match even the most eccentric query.”
The system also uses integrated advanced image recognition tools. This allows retailers to recommend relevant products based on visual similarities to others rather than text descriptions.
Raj Seshadri, President of Data and Services at Mastercard said,
“We’re putting technology and machine learning to work to deliver better outcomes for both brand and consumer.”
Dynamic Yield CEO Ori Bauer added, “Personalization gives people the shopping experiences they want.” AI-driven innovation is the key to unlocking immersive and tailored online shopping, he said before adding:
“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.”
Over 25% of retailers already use generative AI, with 13% more planning to adopt it next year, according to MasterCard.
Read more: AI Stocks: Best Artificial Intelligence Companies To Know in 2023
The move comes just a few days after Amazon unveiled Q, its artificial intelligence chatbot for AWS customers.
Furthermore, MasterCard executives have recently aired their thoughts and concerns over CBDC deployments. Several governments and their central banks are eager to digitize money to give them more control over it.
AI Token Outlook
Artificial intelligence tokens are back in the green today as crypto markets rise at the end of the week.
As usual, most of them are outpacing markets in terms of daily gains.
Bittensor (TAO) is up an impressive 13.6% on the day to reach $288 at the time of writing. Meanwhile, Render (RNDR) has gained 7.6% over the past 24 hours to reach $3.54.
However, there has been very little movement over the past day for Fetch.ai (FET) and SingularityNET (AGIX).
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