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Online Advertisements with LLMs: Opportunities and Challenges

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arXiv:2311.07601v3 Announce Type: replace
Abstract: This paper explores the potential for leveraging Large Language Models (LLM) in the realm of online advertising systems. We delve into essential requirements including privacy, latency, reliability as well as the satisfaction of users and advertisers that such a system must fulfill. We further introduce a general framework for LLM advertisement, consisting of modification, bidding, prediction, and auction modules. Different design considerations for each module are presented. Fundamental questions regarding practicality, efficiency, and implementation challenges of these designs are raised for future research. Finally, we explore the prospect of LLM-based dynamic creative optimization as a means to significantly enhance the appeal of advertisements to users and discuss its additional challenges.

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