It depends on a number of factors, but the short summary is that AI can speed up iterative, or incremental coding projects.
At least two of the basic factors to account for include good, detailed prompting and skeptical verification of output.
By that I mean specifying exactly what the circumstances and context are in which you and the AI are going to work. Be clear about your own role (Project Manager, lead developer, neophyte, whatever) and the AI's role (expert coder, code monkey, whatever). Lay out your design specifications in advance.
And never accept the initial attempt of your AI to provide you with code. Validate it, test it, dissect it and make sure it does what you want and need it to do.
It can speed up the process in some cases as you off-load the actual writing of the code. It can not substitute for due diligence on your part.