Jason WilliamsRepresentative Director of Kidoz Co., Ltd.
As a business leader, staying abreast of the latest technological advancements and understanding the impact of these innovations means that we must constantly learn, adapt and grow. This also means considering the social, ethical and legal implications of emerging technologies that need to be explored and understood.
One of the top priorities in my business is ensuring that advertising directed to children complies with the following rules: Children’s Online Privacy Protection Act (coppa) and General Data Protection Regulation (GDPR) regulation. Enforced to keep minors and their data safe when online.
Based on this experience, this article evaluates the different ways brands approach new technology and the importance of ensuring minors are protected. For example, it is critical that brands, developers and ad tech his providers that use AI or reside in the metaverse comply with existing regulations and standards.
Before adopting emerging technologies such as the Metaverse and AI, brands should assess their business processes and ensure they have strong policies in place to protect minors online.
Advertising Powered by Metaverse and AI
Technology is evolving rapidly, providing savvy advertisers with innovative opportunities to personalize user experiences using the vast amount of accessible data they can collect. Brands can now connect with more people faster across multiple platforms and devices.
Innovative leader brands are taking notice, with many leading brands interested in how to leverage artificial intelligence (AI) and the metaverse to further expand their exposure and consumer tracking.
According to the Sitecore study “Awareness of the Metaverse,” Nearly 9 out of 10 U.S. consumers In the future, we expect the Metaverse to play an important role in how we shop and interact with brands. The same report found that 31% of his marketers have already incorporated the metaverse into their current marketing strategy, and another 55% indicated plans to use it in the future.
However, when building your advertising strategy, it’s important to consider the audience generation your business is targeting.According to countless studies, millennials and Gen Z are Interact with the Metaverse and AI every day, This presents a great opportunity for brands to connect with consumers outside of normal advertising and marketing channels.
In fact, according to the Sitecore survey referenced above, 91% of organizations target millennials with their metaverse strategy, followed by Gen Z and Gen X. Brands leveraging these technologies will continue to understand where to reach their target audience and will continue to adapt to new things. how to engage with them.
As brands embrace AI tools and the metaverse provides new data signals, the marketing landscape becomes even more powerful. However, the impact on children must be considered, and companies have developed strong ethical guidelines to protect children’s privacy and ensure their freedom to play without being tracked or retargeted. Must comply with COPPA and GDPR regulations.
How industry leaders are approaching AI
Amazon was one of the first companies to start using AI to target consumers, giving them a competitive advantage, making business operations more efficient, and improving the customer experience. rice field. One of Amazon’s standout AI-powered strategies is highly personalized product recommendations.
When you buy something on Amazon, you see options like “Recommended for you,” “Products you may like,” and “You also bought.” This strategy promotes 35% of Amazon purchases As a result, consumers spend more time on the site doing additional shopping and browsing. It’s a marketing and advertising strategy that turns passive online stores into active sales channels by using data to understand your users.
Metaverse companies such as Roblox Introduction of AI to their products. AI has applications in how the platform creates worlds, how in-game objects and animals behave, and how data can be mined and shared to power the platform and the advertising on it.
Customers should expect benefits such as better personalization and faster release of features from the integration of AI by big tech companies, but companies, especially those targeting children, need to ensure data protection processes. Therefore, we must be careful and always comply with regulations when implementing AI applications. Maintained.
Interacting with children in the Metaverse
In a survey conducted by McKinsey, 59% of consumers We look forward to moving our daily activities to the Metaverse. Big brands like Walmart, Nike, Balenciaga and Adidas all have one thing in common: they are opening virtual stores in the Metaverse.
One notable example is Nike. Nikeland There, consumers can play sports-focused virtual games, shop for NFT sneakers, interact with athletes like LeBron James, and shop for physical Nike products. Nike has created user-centric, user-driven experiences that empower consumers to create their own products and personalized experiences.
That said, children can be drawn to these products, and one of the most important safeguards required for the development and oversight of the Metaverse and other emerging technologies is minors’ privacy.
This starts with understanding and complying with privacy laws. First of all, the economic impact of not doing so can be very high. Consider that Epic Games agreed to pay his FTC back in December. $520 million About Fortnite violating child privacy laws.
But those developing these technologies must also consider ethical implications. Many parents are unaware of which platforms are part of the metaverse and the need to monitor platform usage for commercial and data privacy considerations. As the Metaverse platform continues to grow, technology companies must take the lead in finding the balance between personalized experiences and data privacy needs.
Stay ahead of changing trends
Emerging technologies offer opportunities for fresh and innovative ways to approach all aspects of life, both in business and in our personal lives, and this is key for brand marketers and advertisers to keep in mind. . That said, businesses should also actively consider the implications of new technology, especially how it will affect children who may not yet understand the implications.
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