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Mastercard introduces Shopping Muse, a shopping assistant driven by AI

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Mastercard introduces Shopping Muse, a shopping assistant driven by AI

“Shopping Muse,” a brand-new generative AI shopping tool from Mastercard, is intended to assist customers in receiving tailored product recommendations. Dynamic Yield, a personalization startup that Mastercard purchased in April 2022, powers the tool. “Revolutionize how customers search for and discover products in a retailer’s digital catalogue,” according to Mastercard, is the concept behind Shopping Muse.

The application has the ability to translate users’ informal language into customized product recommendations. Shopping Muse is knowledgeable about contemporary lingo and fashion, such as “beach formal” and “cottagecore.” Questions such as “What should I wear for a summer wedding?” can be posed to the tool. or “Is there anything you’d suggest for a minimalist capsule wardrobe?”

Shopping Muse considers the context of the user’s shopping experience, the direct question or questions being asked, and the topic of the conversation when generating personalized recommendations. The retailer’s product catalog and the shopper’s on-site actions, like clicking on specific products and adding items to carts, are also sources of data used by the algorithms. The algorithms also consider the consumer’s known preferences and those that are displayed in real time.

When a user logs in, the algorithms might take into account their previous browsing and purchase history with that particular retailer. This could include any in-person purchases they made by giving the cashier their phone number or email, for example, and connecting those purchases to their account.

Shopping Muse can assist users with phrase-based searching in addition to making recommendations for products when the user is unable to find the right words to express their needs. According to Mastercard, “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.”

While Mastercard’s new tool is initially intended for the fashion industry, the company notes that other industries, such as furniture and grocery, may also benefit from this technology.

“Personalization gives people the shopping experiences they want, and AI-driven innovation is the key to unlocking immersive and tailored online shopping,” said Ori Bauer, the CEO of Dynamic Yield by Mastercard, in a statement. “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.”

More than one in four retailers currently use generative AI solutions, and another 13% plan to do so in the upcoming year, according to Mastercard, which asserts that retailers must embrace technology in order to adapt to changing consumer demands.

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iOS 18 at WWDC 2024: Introducing the Humane AI Pin Feature

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WWDC2024, which is slated for June 10, is the first event that Apple has planned for the year. Anticipatedly, the occasion will unveil the new iOS 18, which will power the upcoming iOS devices, including iPhones and iPads. Apple has kept the specifics under wraps as usual, but it’s anticipated that the upcoming announcement will also include a number of AI features.

iOS 18 Incorporates Humane AI Pin

There’s been a lot of talk about the next OS update, and it’s even possible that iOS 18 will include Humane AI Pin, the wearable multi-modal device that’s the next generation of AI for easy communication, moment capture, and task management.

With this feature, users can communicate more easily by having long text messages on Apple devices condensed into brief summaries.

According to a report by Apple Insider, text summarization will be implemented in iOS 18 by utilizing Apple’s cutting-edge AI technology. This will also make use of advanced algorithms to find important information in texts and improve user efficiency and comprehension.

Messages Integration with Safari

Users will be able to summarize content from multiple sources, such as webpages and digital documents, thanks to the iOS 18 text summarization feature, which is anticipated to work seamlessly with Messages and Safari. Further demonstrating Apple’s dedication to a seamless user experience will be this cross-platform functionality.

Code from iOS 17.4 Contains Evidence

Early in the year 2024, hints about the revolutionary features of iOS 18 emerged when a new framework named “SiriSummarization” was found in the code of iOS 17.4.

Complementing the conjectures is a “Safari Browsing Assistant” that proposes an all-encompassing method of information management.

Focus on Privacy and Offline Functionality

In addition to guaranteeing functionality even when it is offline, Apple has placed a high priority on user privacy. The text summarization function in iOS 18 is supposed to function without an internet connection, protecting user privacy.

What’s more?

Fans are getting more and more excited about iOS 18’s impending official release, and they will keep pushing for the full potential of its text summarization feature.

Just by introducing the Humane AI pin, Apple will show that it is dedicated to improving user experiences that are consistent with protecting privacy.

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The Debut of Clever.AI was Revealed by CleverTap

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Clever.AI, the AI engine of CleverTap, one of the top all-in-one platforms for customer engagement and retention, was launched today. Through Clever.AI, CleverTap aims to provide brands with the next generation of AI capabilities needed to develop a human-like understanding of their customers and effectively deliver personalized experiences that increase customer lifetime value.

Brilliant.Predictive, generative, and prescriptive AI are the three main pillars upon which AI is based. Brilliant.These three pillars work together to revolutionize consumer engagement strategies and create more intelligent and effective customer interactions thanks to artificial intelligence (AI).

Clever.AI Gives Brands the Ability to Become:

Perceptive: Equipped with Predictive AI powers, it predicts exact business results, assisting brands in anticipating consumer demands. Astute.The TesseractDBTM, a proprietary technology from CleverTap, powers AI insights by ensuring data granularity over an extended lookback period, improving prediction accuracy, and empowering brands to make well-informed decisions that boost marketing ROI.

Empathetic: Cleverly advancing GenAI.AI creates content that speaks to people on a human level by fusing creativity and emotional intelligence. By using empathy, brands can increase conversion rates and provide hyper-personalized experiences for customers.

Actionable: By utilizing Prescriptive AI capabilities, it helps brands instantly determine the best engagement strategies to maximize conversions throughout the customer journey.

Burger King’s Digital Product Manager, Peter Takacs, gave it a 10 for usability and a wide range of potential applications. “Our marketing campaigns were improved by our ability to quickly and easily experiment with different options before settling on the best one.” It ushers in a new age of ongoing experimentation.

Chief Product Officer and co-founder of CleverTap Anand Jain stated, “We’re excited to introduce Clever.AI is proof of our commitment over the past few years to setting the standard for early adoption of cutting-edge technology to revolutionize customer interaction. CleverTap’s All-in-One engagement platform will continue to be innovated by Clever.As a result of deeper persona profiling and advanced product analytics, AI is improving its predictive precision and strengthening its capacity to recommend intelligent customer experiences. This enables brands to create more successful campaigns that are outcome-driven and highly personalized for each and every customer interaction.

Brands have already seen an increase in conversion with noticeably greater operational efficiency thanks to Clever.AI. They saw a 3x improvement in click-through rates (CTRs), a 36% increase in conversion rates, and a 35% increase in operational efficiency. They also saw an increase in other metrics like purchases and average order values (AOVs). Additionally, by streamlining content creation, experimentation at scale, and campaign roll-outs, Clever.AI improved operational efficiency. Prominent companies like TouchnGo, Swiggy, and Burger King have benefited from the efficiency gains made by Clever.AI in their campaigns.

At its Spring Release ’24 event, which takes place from May 6–9, CleverTap will present its new AI capabilities through a series of stimulating sessions on how AI can improve the intelligence, effectiveness, and engagement of campaigns for brands.

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Oracle Introduces Database 23ai, Adding Artificial Intelligence to Enterprise Data

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Oracle has released Oracle Database 23ai, a new database technology that incorporates artificial intelligence. The release, which is now as a suite of cloud services, is concentrated on optimizing application development, supporting crucial workloads, and simplifying the use of AI.

One of its primary features, Oracle AI Vector Search, simplifies data search by letting users look up documents, photos, and relational data using conceptual content rather than precise keywords or data values.

AI Vector Search removes the need to transfer or duplicate data in order to process AI by enabling natural language queries on confidential business information stored in Oracle databases. The integration of AI in real-time with databases improves operational effectiveness, security, and efficiency.

Oracle Database 23ai is accessible via Oracle Cloud Infrastructure (OCI) on Oracle Database@Azure, Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service.

Oracle’s Executive Vice President of Mission-Critical Database Technologies, Juan Loaiza, emphasized the importance of Oracle Database 23ai and called it a revolutionary tool for multinational corporations.

“Building intelligent apps, increasing developer productivity, and managing mission-critical workloads is made simple for developers and data professionals by AI Vector Search in conjunction with new unified development paradigms and mission-critical capabilities,” the speaker stated.

Three major improvements have been made to Oracle Database 23ai: OCI GoldenGate 23ai for real-time data replication across heterogeneous stores, AI Vector Search for semantic search, and Oracle Exadata System Software 24ai for accelerated AI processing. By utilizing JSON and graph data models, mission-critical data security, and availability are guaranteed, and developers are empowered to create intelligent apps.

Customers may anticipate higher data security, more rapid enterprise application innovation, and increased operational efficiency with Oracle’s ongoing developments in AI-integrated databases. A strong foundation for companies embracing AI technologies is promised by Oracle Database 23ai, which marks a substantial advancement in AI-driven database systems.

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