Yes and no; it depends on your perspective. An AI system can generate musical ideas, parts of a song such as lyrics, a melody line, or a bass part. But it can't do this on its own without a human pressing the buttons. AI can only be self-learning when it is fed with data, and what goes in determines what comes out: feed it with jazz, and you probably won’t get death metal.
One famous name in AI-generated music is the French scientist and composer François Pachet, who has been working in this area since the nineties, first in a lab for Sony and now for Spotify. His main achievement is the Flow Machine, a neural network that generates music based on musical datasets. discovering patterns in the music you feed in and using this to create something new. He explains how this works here.