Automatic Bidding Sees Some Changes
Automated Bidding in AdWords is getting a facelift with new names for some old functionalities and a new workflow to better utilize your time. Changes include:
The Conversion Optimizer is now called Target CPA
A Target CPA applied to a single campaign is now known as a standard bid strategy
Flexible bid strategies will now be called portfolio bid strategies to better explain their ability to incorporate multiple campaigns, ad groups and keywords into a single strategy.
The ability to create or add items to bidding strategies straight from the campaigns settings instead of having to click farther into the Shared library.
Setting different CPA goals for individual ad groups. Google's example was a clothes merchant setting a lower CPA target for socks amongst other product categories with a higher price point.
For troubleshooting problems with Automatic Bidding you can visit the AdWords Help page here and you can read the full G+ post regarding the changes to the program below.