My POI said "Let's begin with you telling me about yourself for five minutes."
I told him about my undergrad, why I chose my major, the work I've done in the last five years, and why I want to pursue grad school.
He was typing all the things that I was saying. I can hear his keyboards. Haha
I think this question just gauges your motivation for applying to grad school. When I interview new college graduates for entry level engineering positions at work, I ask the question simply to know how much the kid wants the job. People who can tell you exactly why they're doing something usually get your attention. You want someone who wants something and can tell you exactly why.