McDonald's will use the platform capabilities to present customized menu items on its digital signage at drive-through locations based on an individual customer's initial food order and also according to such factors as weather, time of day, and how busy the restaurant is at the moment.
The world's largest fast-food chain McDonald's has concluded one of the largest contracts in its history, and the most expensive in the last 20 years.
The world's largest restaurant chain, which turns over around $23 billion a year, has dropped the sum to become the sole owner of the decision-logic tech firm, whose offices are located in NY and Tel Aviv. The strategy aims to retain customers through digital and delivery services.
Dynamic Yield specializes in what the industry calls "decision logic" technology, which is a form of artificial intelligence-based machine learning software that identifies customer preference based on historical data.
The roll out of the tech will begin with Drive Thru experiences at McDonald's United States restaurants this year followed by "other top global markets".
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Upon closing of the sale - which the Chicago Tribune said comes with a $300 million price tag - McDonald's will be the sole owner of Dynamic Yield's core personalization product and teams. After the closure of this acquisition, the tech will begin rolling out to other restaurants in the U.S. McDonald's also plans to use the AI at self-order kiosks and its mobile app.
Much like Amazon, on the selection of an order, the tech will apparently display further suggested items based on what other customers purchased. The 38,000-store burger chain will continue to invest in Dynamic Yield, which will remain a standalone company.
"Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms", said Steve Easterbrook, President and Chief Executive Officer, McDonald's Corporation.
Dynamic Yield uses streams of customer data to help retailors provide personalized digital promotions.