Hi, AI and ML are the emerging branches in the computer science field. You can definitely get jobs after AI. There are various options for you after pursuing masters.

You can either be data scientist, AI architect, software engineer, robotics Engineer, business intelligence developer, machine learning engineer. There are various opportunities just it depends on what speciality you pursue. Usually PhD is pursued by the research orientated students, if you want to pursue PhD and have out of the box ideas for getting into research you can go for it. After doing PhD you can either go to academic field or to the industry. PhD is time taking bug if you have passion for it go ahead.

Hope this helps.