Most of the time it is just autocomplete on steroids. Scanning the suggestion and hitting tab is almost always faster especially if you have to write a lot of repetitive code.
Generating useful documentation.
I work a lot with legacy codebases. Oftentimes I use copilot to explain what a chunk of code is doing, or give it a requirement and see what it generates based on context. At this point I think working with a legacy codebase as a new maintainer would be a lot harder if I didn't have copilot.