McDonald’s surprises with a technological purchase of USD $300 million
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The Israeli company Dynamic Yield and its new technology will improve both sales and customer experience
On Monday, McDonald's fast food chain announced the plans for the purchase of the Israeli Dynamic Yield start-up for 300 million USD. The Israeli company is a Personalization Anywhere ™ artificial intelligence platform that focuses on offering personalized customer service experiences through web pages, applications, emails, call centers and automated shops.
Leer en español: McDonald's sorprende con una compra tecnológica de USD $300 millones
The attractiveness of the start-up consists in its capacity of data management that allows fast, personalized and highly specific assistance. According to the McDonald's newsroom, "Marketers, product managers and engineers use Dynamic Yield on a daily basis to launch new personalization campaigns, to run A / B tests on the server side and client side, to take advantage of machine learning for product and content recommendations; and employing algorithms for smart email and push notifications."
The fast food chain will become the sole owner of the main customization product of Dynamic Yield, while the Israeli company will continue to be independent and working with its current customers, as well as with new customers.
How will McDonald's use this technology?
McDonald's plan is to start using this technology in the drive-thru and then expand it to the other areas of the restaurant. The fast food chain has already carried out tests at one of its branches in Miami and plans to use Dynamic Yield technology throughout the United States in 2019, to progressively expand it to the most important international markets. "McDonald's will also begin to work to integrate technology into all points of contact for the digital customer experience, such as self-service shops and McDonald's global mobile application," the company said for the news.
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For his part, Liad Agmon, CEO of Dynamic Yield, said "We are delighted to join an emblematic global brand such as McDonald's and we are excited to innovate so that it has a real impact on people's daily lives".
With McDonald's new Drive-thru, customers will be able to view meal suggestions according to the time of day, weather, current restaurant traffic and the most requested items in the restaurant, as well as products compatible with those already selected for the client.
This form of artificial intelligence, along with other technologies already used in the fast food industry such as global mobile applications, mobile payment orders, digital menu boards and self-service shops, could change forever the way fast food chains relate to their customers.
Through these technologies, customers will not only have more payment methods and personalized orders, but they will be able to increase the sales and profits of the chains by streamlining the service and storing data about the most popular products in each location, which could be recommended more frequently to customers. In this regard, Daniel Henry, executive vice president of McDonald's, explains to The Hustle that the new technology acquired by the company "will only become smarter and smarter the more customers interact with it", thanks to its data storage capacity.
LatinAmerican Post | Sofía Carreño
Translated from "McDonald's sorprende con una compra tecnológica de $300 millones"
