Mobile advertising is an as-yet-untested-fully venue, but many advertisers are thinking of it as the next wave in media opportunities to reach a younger, technology-savvy demographic.

Apple seems to think so too: It has just unveiled Apple iAds, their ad program for mobile phones.

There is a lot of speculation on whether the new iAds will use the information it currently possesses about its phone users to generate ads that appeal to them. Apple has invested a great deal into technology that custom fits new possibilities to previous purchases.

iTunes is one stellar example of this trend: Apple knows what any individual’s preferences are when it comes to genre of music and artists that user might like, and it pitches new bands and solo acts based on that knowledge. If Apple can get its ad network to hit the same note, it could potentially be serious competition for Google’s AdSense.

The other interesting notion is that Patently Apple has announced a patent that could force users to watch advertising by using their smartphone to interact with the ads. This interaction ensures that the user is watching the whole commercial – a problem for both online and mobile media right now, since many users simply ignore the ad until it’s over.

There are rumors that Apple is considering using techniques like these in exchange for heavily discounted rates on their technology, since they may be unpopular among users who paid well to use their iDevices.

Though iAds has been revealed, exactly how it will be executed has not. We’ll be interested to see how iAds wind up changing the way we use mobile phones – and advertising.