Explain what is conversion optimizer in Adwords?

Explain what is conversion optimizer in Adwords?

AdWords Conversion Optimizer is a tool that helps acquire the most conversions possible at a defined target cost per acquisition. Instead of manually manipulating bids and generating conversions at any cost, conversion optimizer automatically adjusts bids so conversions are generated within a defined CPA boundary.
Conversion Optimizer acquires conversions within this defined boundary by analyzing campaign history and performing a behind the scenes predictive analysis of which Search or Display auctions are most likely to convert. Bids are automatically increased or decreased based on whether AdWords believes a specific auction will convert or not. Manual bidding only reduces cost per click, but doesn’t take into account what auctions are most or least likely to convert.