Why do most trading bots fail?

Why do trading bots, despite their promise of increased efficiency and profit, often fail to deliver? Could it be that they lack the human element, such as intuition and adaptability, which are crucial in the ever-changing world of finance? Or is it because they rely too heavily on past data, failing to predict unexpected market movements? It's also possible that their creators don't fully understand the nuances of the market or how to properly configure and monitor the bots. Additionally, technical issues and security vulnerabilities can also lead to their downfall. Ultimately, the question remains: how can we improve the success rate of Trading Bots in the cryptocurrency and finance industry?