There is rising demand for responsible use of consumer data: Gowthaman Ragothaman

At Goafest 2022, Ragothaman, Aqilliz Co-Founder and CEO, shares insights on digital advertising ecosystem, key challenges faced by the industry and more

e4m by exchange4media Staff
Published: May 9, 2022 8:34 AM  | 2 min read
Gowthaman Ragothaman

The digital advertising industry across the world has been facing some unique challenges notwithstanding the stupendous growth in ad spends on the medium. Considering the massive opportunities that digital presents, the industry needs to solve these problems to achieve its true potential as an advertising platform.

These thoughts were echoed by Aqilliz Co-Founder and CEO Gowthaman Ragothaman on Day 3 of Goafest 2022. He was delivering a keynote address for the Digital Conclave at the event.

Addressing the delegates, Ragothaman noted that some of the key challenges faced by the industry include responsible use of consumer data, lack of independent third-party measurement, and use of consumer data for personalisation of content. "Across the world, there is a rising demand and attention for how responsible are we towards managing a consumers data. GDPR in Europe, CCPA in the US, and PDP Bill in India which can become an act talk about how responsible are we about managing consumer data," he said.

Speaking about the open web crisis, Ragothaman pointed out that a vast majority of consumers would prefer privacy over personalisation. He added that 2/3rd of advertising money is still not attributable. Further, almost 80% of the publishers don't know their subscribers or readers.

Ragothaman further stated that digital advertising revolves around the trifecta of consumers, brands, and platforms with brands feeding into platforms and platforms feeding into consumers." He also stated that blockchain is capable of solving the problem of recording the value exchange that takes place in the digital advertising ecosystem.

Elaborating further, he said that decentralised clean rooms are being used as a methodology for the safe and secure use of consumer data. Distributed ledger, he stated, is another record-keeping that gives the proof of the transactions between the sender and receiver. "It is now being seen as an option to deploy for cross-media measurement," he added.

Apart from decentralised clean rooms and distributed ledgers, tokenisation is another solution that digital marketers can look at for recording the value exchange. "NFT is a simple token that is being given as a voucher. It's like a loyalty programme on a digital platform," Gowthaman added.

Speaking on Web 3.0, Gowthaman said, it will be all about owning digital assets. "If Web 2 was about reading and writing we are getting into a world where it is all about how can own what I created. The Rs 100,000 crore that we are going to get in the next three years' time will be colliding with this future," he noted. 

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