By Nnamdi Odumody
Franchise quick service restaurant giant McDonald’s is acquiring AI-powered personalization platform, Dynamic Yield, for over $300million. Dynamic Yield will still operate as an independent entity, but its technology will be deployed in McDonald’s locations across the United States of America.
McDonald’s announced that it’s acquiring artificial intelligence- (AI) powered personalization platform Dynamic Yield for over $300 million, sources told Wired.
Dynamic Yield will continue to operate as its own company, but its technology is expected to be brought to 1,000 McDonald’s locations in the next three months, and all 14,000 US stores as well as its international restaurants over time, giving McDonald’s more ability to adapt and personalize its customer experience.
With this acquisition McDonald’s will be flexible on its menu presentation to drive sales and improve its customer experience by leveraging Dynamic Yield’s technology and data. McDonald’s will be able to utilize the customer data better, offering personalized services to the customers. The restaurants could eventually recognize license plates and consider purchase histories for a more personalized experience.
These insights will be deployed through the restaurant’s drive-thru menus and self-service kiosks. The digital interfaces will now change their product offerings, and how they present them will be based on data-driven insights. In a pilot test in Miami, the insights include making recommendations for products customers might want to add to their orders, while also displaying the popular items at a location.
A dynamic menu will also help McDonald’s optimize its operations. In the event that a drive-thru is moving slowly, the menu can highlight simple items to help get it’s processes back on track, and it can promote complex and expensive products when the drive thru is running smoothly.
Tastee Fried Chicken, Mr. Biggs and Sweet Sensation which are the leading quick service restaurants, in Nigeria, should leverage artificial intelligence to improve their customer experiences. Adopting AI can help them offer personalized meals to diabetics, vegetarians, and other customers who are abstaining from consumption of high calorie diets. By using data, which they might have collected from customers, they can optimally serve these customers and improve their businesses.