The clips will, with the corresponding magazine charging adaptor. However, the magazines will not. The AK magazine latches at the front & rear, locking up with a rocking motion. The AR magazine latches at the side, locking up with a straight inward motion.
Since the cartridges are the same, and the case heads therefore the same, clips of .223 (those little metal strips that hold five or ten cartridges, ten in the case of USGI .223) can be used to charge either rifle's magazine. However, you'll need the charging adaptor (magazine clip guide) to strip rounds from a clip into a magazine.
Regards,
Walt
