> AI means that those 'easy' tasks can be automated away, so there's less immediate value in hiring a new grad.

Not disagreeing that this is happening in the industry but it still feels like a missed opportunity to not hire juniors. Not only do you have the upcoming skill gap as you mention, but someone needs to instruct AI to do these menial/easy tasks. Perhaps it's only my opinion but I think it would be prudent to instead see this as just having junior engineers who can get more menial tasks done, instead of expecting to add it to the senior dev workflow at zero cost to output.