A bot is simply a program designed to interact with something in a particular way. So, a chat bot is a program designed to send and receive chat messages and respond in some way that kind of, sort of, not really passes for human.
I’m not sure of the particulars of the bots you’re taking about, but I’d assume they’re programmed to watch the price of a given object on a given website or group of sites, and if the price falls past a certain point (or an out-of stock item comes back in stock) they trigger a purchase of that item. They’ve already been programmed with the request information to execute a purchase, so it’s a simple matter of sending that request. They don’t have to type any information in (or rather, the information has been typed in in advance), so sending the order is a matter of milliseconds.
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