These are steps I would have the automated system prioritize:
Equip all items, initiate combat (risk tolerance slider? when higher risk, will try harder mobs), collect loot, replace low value loot with high value when out of spots
Save up for backpacks to carry more loot
Buy missing and useful spells first, buy less useful ones secondary
Train new skills as they become available (e.g. meditate at level 8)
Maybe have a "grind versus adventure" slider - adventure makes the bot focus on quests to get better gear, grind means stick with what you got and upgrade when something drops
Have have a "quest selector" for the user to say which quests to focus on for specific items of gear they want.
Have a travel risk meter - when having to go to new zones for quests, how slow you move versus how much risk you take. Higher risk, higher movement speed.
These are steps I would have the automated system prioritize: