Yes they did, at least twice in the 19th century.
It was the largest financial crisis before 1929
AI feels like a solution looking for a problem. Especially with 90% of consumer facing products. Were people asking for better chatbots, or to quickly deepfake some video scene? I think the bubble popping will re-reveal some incredible backend tools in tech, medical, and (eventually) robotics. But I don't think this is otherwise solving the problems they marketed on.
The problem is increasing profits by replacing paid labor with something "good enough".