The video tutorial guides viewers through creating a chatbot's welcome input and response system. It starts by defining possible user greetings and corresponding responses. A function is then developed to randomly select a response based on user input. The tutorial concludes with a brief overview of future steps, including using TFIDF vectorizer and Wikipedia data for response generation.

What steps are involved in creating the welcome input and response for the chat bot?

What future functions are mentioned that will be developed for the chat bot?