With digital ad spending forecast to reach a staggering $382 billion globally in 2023, the urgent issue of ad fraud has come into sharp focus, as an estimated 22% of this amount, equating to $84 billion, is anticipated to be lost to fraudulent activities. The impressive collaboration between VeraViews and AIREV aims to address this critical challenge within the Gulf Cooperation Council’s (GCC) advertising landscape, specifically launching their efforts in the United Arab Emirates (UAE). This partnership leverages VeraViews’ cutting-edge expertise in Web3 technologies and AIREV’s state-of-the-art artificial intelligence analysis and machine learning techniques to set a new gold standard in ad tech and ad fraud prevention.
VeraViews, which showcased its significant impact within the advertising sector at Cannes Lions 2024, will be working closely with AIREV, the fastest-growing AI startup in the UAE. This combined force aims to create an unparalleled, fraud-resistant environment for digital advertising. The first beta releases of their innovative products are slated for late 2024, involving collaboration with publishers, regulators, and relevant authorities to ensure the legitimacy and effectiveness of these groundbreaking solutions. This timely initiative reflects the mounting urgency to guarantee advertisers that their investments in digital advertising are both secure and efficient.
CEOs from both companies have highlighted the collaborative effort’s importance as a decisive move toward restoring trust and security within the digital advertising space. The partnership not only targets the GCC region but also stands to influence global standards in ad fraud prevention, serving as a model for other markets to follow. By setting a new benchmark in the industry, VeraViews and AIREV are paving the way for a future where digital advertising thrives free from the pervasive issues of fraud that have plagued it for years. Their dedicated efforts signify a pivotal step toward safeguarding the integrity of digital ad ecosystems and fostering a more transparent advertising environment.
