Data Privacy Day: How can ad land keep its balance in 2024?

January 29th, 2024

In the news: After last year’s whirlwind regulatory advances, this Data Privacy Day carries a strong sense of positive, and accelerated, change. With no fewer than seven US states passing privacy laws, new terms agreed for transatlantic data flow, and European officials launching the first legal framework for AI, 2023 brought major global reinforcement of user data protection. In ad land, however, balancing multiplying rules with the need to deliver engaging messages is getting harder — especially as more technology players add their own restrictions.

Amid the loss of third-party cookies and rising consumer concern about online data usage, the industry faces an urgent need to evolve long-entrenched processes. But what does that look like, and where should they focus first?

Advertising Week has gathered insights from leading consultancies, media experts, and vendors around the key trends they feel should top the agenda for 2024, as well as their recommendations for driving effective and privacy-secure ad targeting, tracking, and optimisation.

R. Larsson, Advertising Week

“With AI now mainstream, it’s crucial that we make progress on establishing ethical management. Reaping the rewards of AI’s potential while navigating a minefield of potential harms requires guidelines to root out biases, protect privacy, and ensure transparency. Ethical AI fosters trust, which will be hard won after years of digital platforms being far too comfortable getting “hands-on” with personal data.

Data ethics are tied closely to AI ethics, and we must resolve growing concerns around data privacy before going all-in on AI, or risk building new infrastructure on shaky foundations. Expect to see a continued shift towards first- and zero-party data collection, where informed consent around its collection and use — including machine learning models and training data — can be established and maintained. The tech world cannot afford to take its usual “move fast and break things” approach when it comes to AI.”

Evgeny Popov
Executive Vice President & General Manager, International
Verve Group

Full article available at Advertising Week.

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