Well not quite. In a huge shake-up, Google AdWords will soon become Google Ads. On July 24th 2018, this new Google Ads brand will encompass the full range of campaign types available today, including Search, Display and Video.
Adwords launched in 2000, to allow advertisers pay to be above organic rankings. (generating Google over six hundred BILLION dollars in the process) Other platforms have been added since, which has fragmented the options for advertisers. With new Google Ad manager, this experience hopes to become far more streamlined, basically trying to get us all to buy into every paid advertising channel they offer.
For a few months now Google has been testing (and allowing some of us to trial) the new Ad manager, which not only is easier and faster to use, it also adds a few new fancy features to boot.