Though Job and Placement Prospects after CSE in either specialization from SRM Ramapuram will be mostly related to Software Development with companies like TCS, Infosys, Wipro, Accenture, Cognizant and Other IT and Software Organizations recruiting from Campus with a median package between 5-8 LPA. Hence your choice of any Specialization wont really affect your Placements.

As far as choice between two is concerned, I believe the AI and ML specialization will be better considering the rising importance of Digital Transformation and Implementation if Machine Learning in Every Organization. Cyber Security and domains like Cryptography or Ethical Hacking for instance, at present doesnt have a strong Job Market and Placement Scope in India. Hence, incase you dont have any particular interest, I would suggest you to pursue AI and ML Specialization in CSE from SRM Ramapuram.