In recent years, the digital advertising industry has come face to face with a barrage of new policies and regulations. With concerns mounting over data privacy, consumer protection, and AI, new laws have sprung up at a variety of levels-from state, to federal, to global. This regulatory frenzy underscores a complex balancing act between commercial interests and consumers' needs.
Consumers accept ads' presence in our digital ecosystem, with 95% saying they would prefer ads to paying higher costs for an ad-free online experience. A further 88% say they want ads that are personalized to their interests and needs-personalization that is largely dependent on the personal information that consumers do (or do not) share.
However, that being said, there is still a strong desire among consumers and regulators alike for increased transparency and consent around data collection and usage that's built upon deep distrust of companies' data practices, with 81% of Americans saying they are concerned about how companies use the data they collect about them and 67% admitting they have little to no understanding of what those companies are doing with that data once they collect it.
Advertisers, then, are faced with a daunting task: Prioritize consumer privacy and adapt to new and ever-evolving regulation, while simultaneously delivering personalized digital advertising experiences that resonate with audiences.
This challenge was at the forefront of conversations at the IAB's recent Public Policy & Legal Summit, where industry leaders explored this juxtaposition and shared critical considerations for advertising teams. Whether in discussions around bias in AI, presentations on state-specific privacy legislation, or conversations on how to address kids' safety online, navigating this complex landscape demands not only attention, but conscious action.