Yes.
Giants is one of your priorities when it comes to upgrading your troops to strengthen your offense.
Giants primarily attack the enemy’s defensive structures such as cannons and mortars making these structures focus on your giants too.
High level giants will take a longer period of time for the enemy’s defensive buildings to kill them making your other troops such as archers and wizards to single mindedly kill these defensive structures while they are busy attacking your giants.
This kind of strategy is very effective in getting more loot and can help you collect resources from other player’s camps.