Yes. There are three cruise control levels. Normally you can only switch between the first two unless you're on a highway, then the third option (Plus) becomes available to switch into.
I've been using it on my IX a lot. Once IX detects that the road has the right conditions for hands-free driving it will say Driving Assitance Plus available on the dash. Then you have to switch into that mode using the steering wheel control you used to enable the initial cruise control mode. The steering wheel has two LEDs on both sides that light up green when hands-free is active, and you can then take your hands off.
It works really well, and I've been using it on drives between DC and NYC with no problems, including night driving. The only time it has issues is during heavy rain when the road lines are washed out. It turns off and downgrades to a level lower or turns off completely if conditions are bad enough. No different from other EVs and probably no one should be auto-piloting in heavy rain anyway.
For lane changing, you have to manually initiate them by using the blinker and then the car will do it for you (if it's safe to do so). SuperCruise has fully automated lane change without a manual trigger so it has that over BMW for now. Outside of that, both are comparable and work really well if you're on a supported road.