Answer : YES, the reaction will occur.
Explanation : When we mix the aqueous solutions of Silver nitrate with Nickel iodide the reaction that occurs is stated below :-
[tex]2 AgNO_{3} + NiI _{2} ----\ \textgreater \ Ni (NO_{3}) _{2} + 2 AgI [/tex]
A double displacement reaction occurs in this case. It means their is exchange of cations (positive ions) and anions (negative ions) between the two reactant compounds. Thus,the two new products which are obtained is the result of switching of ions between the reactants.