It looks like Google may be introducing paid search without using keywords to target clicks in sponsored results on Google. This would be done by way of choosing categories that your business is related to. Read more on Paid Search Without Keywords here.

What effect this will have on Google’s ranking system (quality score) may be questionable as Google may not be able to determine which advertisers are keeping their AdWords campaigns targeted and therefore relevant to users’ queries. This is something that Google will have to think about before implementing this feature.

However, it is most likely that paid search without keywords won’t be happening for a while yet as the current system is working very well and currently there is no need for change. Change now may upset the apple cart and Google wouldn’t want that considering that 99% of their revenue comes from paid advertising.