Well, in the near future anyway. Sony has developed wireless chip communication on the small scale, removing all traces gone and board real-estate free. They've done this using a shortwave communication method on the 30 to 300Ghz spectrum, known as Millimeter-Wave, according to Sony.
According to Sony, we could see this technology being used in the near future. So many problems will be solved: solder connections, trace attenuation, prototyping, etc.. Though, when it does come out, it will be proprietary and heavily patented. So, wide spread use and pushing technology forward using this method will be crippled for many years. (See the ridiculous multi-touch patent infringement lawsuits.)
I recently had a circuit space issue that could have used this technology. I can't wait to see this a reality.
Here are some facts and numbers from Sony on the subject:
A 40-nanometer complementary-metal-oxide-semiconductor (CMOS) prototype system achieved transfer speeds of 11 gigabits per second operating at 56 gigahertz over a distance of 14 millimeters. Adding a secondary antenna can increase the range to 50 mm.
"Direct connection also reduces the size of the circuits and power consumption," says Akiyama. In addition, he says, Sony has optimized the system's circuitry for use as compact low-power interconnects. The result is an overall footprint of just 0.13 square millimeters for the entire system, with a total power consumption of 70 milliwatts. - Sony's Yoshiyuki Akiyama
"The potential to launch it within three years is strong. Once we are satisfied with the layout and performance, then we can start production immediately." - Sony's Kenichi Kawasaki, general manager of millimeter-wave systems development