Automated Rules are in the Automated Rules menu. They monitor your Meta Ads campaigns, ad sets or ads on their own and take an action when the conditions you set are met. The available actions are: Pause, Activate, Increase Budget, Decrease Budget and Set Fixed Budget. You choose the condition metrics (CPA, ROAS, spend, cost per lead and others), the calculation period, the check frequency and which accounts the rule applies to. Each time the rule acts, you get a notification in the dashboard bell telling you exactly what was done. This is different from Alerts, which only notify you and don't change anything.