This seems to be less and less the case. The ML industry changes so much and so quickly that a PhD in some specific subject is obsolete quickly. Of course there

This seems to be less and less the case. The ML industry changes so much and so quickly that a PhD in some specific subject is obsolete quickly. Of course there are ancillary benefits to having a PhD, and certainly the more stogey "higher ups" of certain mentalities might be convinced, but largely it doesn't move the needle. In fact, most of the really respected people in the industry have told me that one shouldn't get a PhD for ML anymore unless they have very specific goals and it is a tip top program.