McDonald's acquires AI company Dynamic Yield to fast track its digital transformation

McDonald's acquires AI company Dynamic Yield to fast track its digital transformation

The fast food chain will use this technology to create a more personalized experience that will include new outdoor digital drive-thru menu displays that can change depending on the time, weather, current restaurant traffic and trending menu items.

The world's biggest restaurant chain is spending more than $300 million on Dynamic Yield Ltd., according to a person familiar with the matter.

McDonald's is investing in AI technology to encourage customers to order more. Many of those people never get out of their vehicle, opting instead to place and pick up their orders at the drive-thru window. This is the largest acquisition of the fast-food company and showcases the company's desires to use technology for speed growth in the ever-competitive restaurant industry, as per the daily. "Our acquisition by McDonald's, one of the most iconic and beloved brands of our time, is truly an endorsement of that vision".

Dynamic Yield, which is based out of Tel Aviv and NY, will continue to operate as a standalone business, but will become exclusively owned by McDonalds.

Dynamic Yield, founded in 2011 and headquartered in the coastal city of Tel Aviv and in New York City, has developed a platform that helps marketers increase their revenues.


"Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms".

Additionally, the decision technology can also suggest additional items to add to a customer's order based on their current selections. The technology has already been piloted in several of McDonald's US branches throughout 2018, the company said.

Dynamic Yield co-founder and CEO Liad Agmon said in a statement: "We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalization a core activity".

McDonald's has been making giant leaps in the tech space by integrating functionality - through its mobile app, self-ordering kiosks, mobile order and pay option, etc. In 2018, McDonalds announced it was updating thousands of stores in the USA with self-service ordering kiosks. Plans to expand internationally will happen at a later date.

Even though McDonald's has acquired Dynamic Yield, it will continue to work with its clients like Ikea, Sephora, and Urban Outfitters.

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