The tools in this category will produce a tidy set of questions and answers from a description of your product in under a minute, and the output is usually readable. Whether it is useful depends entirely on where the questions came from, because a page answering questions nobody asked is a page nobody reads however well it is written.
What it does well: the second draft
Given a real question and a rough answer from the person who knows, a generator will tighten the wording, keep the register consistent across a page and catch the answer that accidentally assumes internal knowledge. That is genuine editing work and it is the right use of it.
What it cannot do: know what was asked
The questions that matter are in your support queue, your sales calls and your chat channel, and no tool that has not read them can guess which five of the fifty plausible questions are the ones that come up. A generated list is a list of plausible questions, which is a different thing and a much less valuable one.
The specific risk: a confident wrong answer
A generator will answer a question about your refund window or your data retention with something reasonable, and reasonable is not the same as correct. Every generated answer that states a fact about your company needs a person who knows to confirm it, and that review is not faster than writing it was.
Questions people ask about FAQ generator
How should we get the questions instead?
Export a month of support contacts and count. The top ten by frequency are your FAQ and the exercise takes an afternoon, which is less than the time spent editing a generated list into something true.
Is it useful for a brand new product with no queue?
As a starting hypothesis, yes, clearly labeled as one. Replace it with the real questions as soon as the first month of contacts exists, because the guesses will be wrong in ways nobody could predict.
What about generating answers from our existing articles?
Better, because the source is your own content and the output can cite which article it came from. Insist on that citation: an answer with no article behind it is one nobody can review when the underlying fact changes.