Yes, Chord ai allows you to add, remove and edit lyrics. 

To add some lyrics manually, do a long press on the transcription view, anywhere on the waveform or on the grid view, and select “Add lyrics”. 

To edit or remove a lyrics segment, do a long press on a lyrics segment. You can then use side arrows to resize the segment or translate it with a drag gesture, or simply edit the text. Tap the trash icon to delete the segment.