Can Google and Facebook clean up on-line advertising in time?

Shortly after the news that Jaguar has pulled its on-line advertising because its adverts were appearing alongside ISIS terrorist recruitment videos  came the news that Proctor and Gamble is reviewing all its on-line advertising 

When I blogged on the risk that the On-line Advertising market was about to implode because of widespread fraud, I was not aware that nine out of ten major advertisers were planning to review their contracts because of the scale and nature of the problems with big-data based algorithmic advertising . It is apparent that further change is on the way as users decide that the content they are seeking is not worth sitting through unwanted advertising , major on-line media players review their policies  and traditional media begin to fight back by exposing the problems with their on-line competitors .

In the United States the traditional media are coming together to promote an alternative approach based on trusted validation as opposed to the black box algorithms that are being reverse engineered to promote illegal content and not just defraud legitimate advertisers but actively offend their target audiences.

When Lord Lucas proposed an amendment to the UK Digital Economy to enable Ofcom to address the problem of reverse engineering and exploitation to promote illegal content , supported by Lord Erroll, chairman of the all-party Digital Policy Alliance, the Government asked that it be withdrawn pending further research into how to make legislation work.

This does appear to be idea whose time have come – albeit it may well be that a global alliance of legitimate advertisers, rather than Ofcom, will force the pace. If so, we can reasonably expect action from Google and Facebook, seeing at least 20% of their  revenues (that proportion already which comes from “programmatic advertising”) at risk.