There is danger of losing the apprenticeship nature of our industry, where companies who take on grads help the industry as a whole.

How this plays out is a good question. You need a way for people new to the industry to get real world experience, and express their talents.

This might just fix itself. After all if company A has AI, and so does B, then AI is table stakes, and people are still needed for the edge, whatever that might be, at least while people are still the customers :-). An example of where people are not the customers: stock market. Mostly bots and algorithms buying that stuff.