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What is an automated bidding strategy? So there are lots of automated bidding strategies in Google which is the smart bidding is the same as auto bidding where you don't have any control over your bidding. You don't need to worry about it and you let the algorithm or the Google gods take control over the bids. Most of the time it works quite often you will find that because of the lack of control Google will bid aggressively and may charge you a higher CPC but don't freak out because the cost of cost per click went up.
It may result in a better click a better-qualified click and a higher quality click as well that's why you are paying a premium price for the highest CPC with auto-bidding especially with maximize conversions, max conversion value, target CPA, and target ROAS as you don't have all this headache of bidding on all these keywords which you may have in your account let Google do its job whereas you can focus on create writing your ads creatively focus more on the landing page how to increase the user experience on your landing page and so on. So there are pros and cons for auto bidding but the algorithm is getting better and better day by day and the machine is going to be the human pretty much whenever it comes to bidding because it can see a lot more signals than us humans can see.