Yes, because an actual A.I. would somehow be free of biases and magically tend towards justice somehow.

Like any actual intelligence.

It would maybe be better than normal monarchy in most ways, I guess.

Other than that AI doesn’t die. The best thing a king can do is die, because monarchy is terrible.

If there was AI made for public benefit, maybe yeah. But for now AIs are made by companies and governments and they're trying their best to encode their interests into them.