Artificial Intelligence has been playing a key role in conventional advertising, for quite some time. Blockchain, on the other hand, has not been exploited to its fullest potential in this sector. The OLTarget service on the OLPORTAL platform aims to combine these two technologies to create a revolutionary product for advertisers, as well as end-users.

Presently AI is used for purposes ranging from budgetary planning of advertising campaigns to creating better-targeted viewership based advertising campaigns, in terms of allocation of funds for various aspects and forms of advertising to optimize the results.

It has also been used in web-based mediums to make customized outreach to customers. These included making suggestions and recommendations based on the preferences of customers and other criteria. For example, a company like North Face could have used an AI chatbot to converse with the clients’ travel plans in order to recommend them with suitable jacket or shoe options.

Problems of AI-based Advertising

These models are all geared towards very specific marketing ends. They are all made for achieving greater sales of products. And therefore, the user experience is secondary in the design of these marketing instruments. Neither do any of these instruments have any rewards or incentives for the users. This can reduce user enthusiasm in the long run.

Moreover, data mining practices used for all these marketing instruments compromise the privacy of the users. Being stored on centralized servers, these data can be commercialized and used for several other campaigns thus disadvantaging the users.

The Many Virtues of OLTarget

The OLTarget service can come as a respite for many of the problems mentioned above. Being a decentralized platform the users’ data on this platform is stored on a decentralized network of nodes. And therefore, the data is inaccessible to the advertiser or the admin of the platform.

Moreover, the data collection process on the platform is totally transparent. The data used for analysis on the platform is provided voluntarily by the users during the registration process. Moreover, there are different rewards for the users of the advertising instruments (chatbots).

How Does OLTarget Work?

The OLTarget service is integrated with the OLMarket, which is a decentralized marketplace for AI chatbots. The advertisers can develop their own chatbot or use one of the existing templates on the platform for exhibiting their chatbot on OLMarket. They will have to assign the budget for the campaign, which will help the algorithm prepare a negative pricing model.

Once the offer is accepted, a smart contract is generated for the advertiser. The advertiser will have to make the payments through OLCF tokens from their OLWallet.

The users will have to register on the platform, and based on their registration details the algorithm will display the right chatbots for the users. The algorithm will ensure perfect compatibility between the advertiser’s instrument and the users’ needs. The users after loading the bots into their account will receive the rewards as per the decided negative pricing, in their OLWallets. In this way, a sustainable advertising climate is created based on transparency and mutual benefits.

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