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In principle it could (if you believe in functionalism), but it probably won't. One way to ensure that AI has human-like emotions would be to copy the way human brain works, but that's not what most AI researchers are trying to do.
It's similar to how once some people thought we will build mechanical horses to pull our vehicles, but it turned out it's much easier to build a car. AI probably doesn't need emotions or maybe even consciousness to be powerful, and the first AGIs that will get built will be the ones that are easiest to build.