Yes people are doing this, and it can save a lot of time. The biggest win is usually using AI for first drafts and creative variations, then having a human review the claims, targeting, and compliance before anything goes live.
For finance and betting especially, I’d avoid fully automated “generate and publish” workflows. Ad-platform rules and financial/gambling restrictions can make seemingly harmless copy risky. AI is better used to produce multiple hooks, headlines, CTAs, image concepts, and variations that you then test manually.
As for effectiveness: AI-generated content isn’t automatically better than manually created content. Its advantage is speed and volume. You can test 20 creative angles instead of spending hours making 3–4. The winners should ultimately be determined by your actual campaign data CTR, CPA, conversion rate, and downstream quality not whether AI or a human wrote them.