Speed bumps are designed to make the user reflect about a particularly risky or unexpected action.

Speed bumps

Intentionally slowing people down keeps them focused on the task on hand. Sometimes, a little friction can be a focus intervention. A speed bump might minimize the risk. In a sign-up or payment process, this takes the form confirmation dialogue. A speed bump might delay action so that you can reconsider, too.

From Good Design Removes Friction – UX Collective

The point of a confirmation element is to get the user to stop and think about whether or not to proceed. (If proceeding requires no thought, don’t confirm!) There are two facts about user behavior that we need to work with here: