Google “AdChoices” is the replacement label to the “i” in-ads icon that expands to an “Ads by Google” label in the bottom corner of the Google AdWords ads.
This change from “i” icon and “Ads by Google” label to these new notifications is an effort by Google to comply online advertising industry’s Self-Regulatory Program for Online Behavioral Advertising to more proactively give users notice and choice about the ads they see. ” Google explained:
With the change from our “i” icon and “Ads by Google” label to these new notifications, we hope to show our support for this cross-industry initiative, and to increase our users’ understanding about ad choices through adoption of an icon they’ll see on ads across the web.
“AdChoices” icon on Adsense
When users click “AdChoices” label they will be taken to a page where learn about the ads they’ve just seen and provide link to the “Google Ads Preferences Manager“, where users can control the types of interest-based ads they are currently seeing( users can remove categories, opt-in to more, or opt out of behavioral tracking altogether).
Check out difference between Placement-targeted ads and Interest-based ads.