Google developing enterprise ad serving product and SEM services

(...) Our due diligence suggests  that Google is in  the process of building a large scale enterprise ad serving product, which the  company plans to offer for free to publishers and  advertisers. While we don't have any knowledge of the timing of  the product release, we have confirmed with two Top 50 Internet publishers and a  channel partner that the project is well underway. If successful, we believe a  widelyadopted ad serving product could give Google valuable data on pricing,  click through rates, and conversions in the broader branded/display market. That  kind of information could help Google launch its nascent display advertising  initiative and accelerate the monetization of network display advertising  inventory.  

We have also learned from industry  sources that Google is building out a "massive India-based account management  team that will perform much of the work that SEM firms currently handle,"  including keyword generation, ad copy creation/testing, campaign structuring,  ROI analysis, landing page testing, and bid management. (...)"

(Source: JMP Research)