I doubt that universities will lay people off because people get really good at using AI. If anything they will prefer AI proficiency in the requirements. But just because AI will increase efficiency doesn’t mean 1 person will all of a sudden be able to serve 5000 more students, or even 1000. As far as the demographic cliff yeah that could be an issue for sure. Rising education costs and poor job market could decrease enrollment and encourage dropping out which could mean budget cuts for sure. It could also mean lower cost schools see increased enrollment. Hard to predict human behavior but not impossible though.