Waypoint Network will generate a desired path for a bot to follow, basically in a procedural way.  It needs destinations that are set by you.  They can be dynamic, random, or sequential - whatever you decide.  Newer, more advanced games do this. 
 
  Waypoint Route is a defined path where the bot will go from one node to the other back and forth in a more predefined way.  It’s not really designed for decision-making, although I think it can, but you don’t get much control over which node the bot will follow.  Older games used to use this to feign intelligence.