When working on an Android project, you use lots of strings in Activity/Fragments/Composable. As per official guidelines, and to take benefit of internationalization, you should not use hardcoded strings in your app. Rather, you should use string resources from res/values/strings.
But Going to the string resource file, making an entry there, and then using that resource in the code is a cumbersome task. If your code contains a lot of strings, this is a huge nuisance.
However, this can be avoided by taking a simple yet effective approach.
Wherever you have string literal in code,
1. Press Alt+Enter to open context menu and select Extract string resource
3. Android Studio will take the string literal and turn it into a string resource, which it will then replace in your code.