No, not really. You can choose not to use UEBA and disable the fusion rule. These are the two primary advanced analysis activities. Customers may also use machine learning in a Notebook. There is no specific option to disable all advanced analysis activities. Though without these capabilities you Sentinel instance will lack some of the core functionality.
I think the term AI is a bit of a stretch for Sentinel. Nothing like ChatGPT. More like correlation and anomaly detection (machine learning). Tracing tends to detect unusual deviations from a historic baseline.