I'm starting a PhD in circuit design this Fall. What I've read and noticed is that there will be a shortage in strong hardware researchers in a few years due to the rising popularity of AI and ML. What do you think about this?

However I also have working experience in software dev, just in case this prediction doesn't pan out in the long run.

I'm actually going to work on a small business idea (likely SaaS) before my PhD starts, with the aim of scoring a modest source of income.