According to a piece by VP/Product Management Jerry Dischler on the Google Blog, Google's Accelerated Mobile Pages (AMP) Project is intended to improve users' Web experiences by speeding them up.

Most recently (May 2017), Google has introduced 2 new ways of integrating AMP with its advertising products for increased speed and better ad performance:

1. New AdWords beta that permits use of AMP pages as landing pages for search ads
2. AMP technology applied to Display Network ads

Details:

AMP landing pages:

• Median load time for an AMP landing page from Google search is now only one-half second.
• Major brands (e.g., Johnson & Johnson, eBay) report increased engagement when using AMP pages as landing pages from organic search.
• J&J reports 10X load speed improvements, 20% increase in engagement.

Display network ads:

• Some Display Network ads are now being automatically converted to and served in the new AMP ad format.
• Google claims that these ads load up to 5 seconds faster than regular ads with the same creative.

Speed is good.

Advertisers meeting certain conditions can now sign up for the AdWords + AMP beta here.