Yes and no. There is a huge explosion of 'Ops Plus' startups that take an existing manual process and then build some basic tooling around it (with or without any substantial ML component). There are mild to moderate efficiency gains coming from this, but a lot of their valuation is coming from a bet that in the future they'll be able to fully automate the system and reap efficiency gains.
In practice, almost nobody is even thinking about building a fully automated process for every case. The reason is simple: automating the first 60% of work takes x effort, automating the next 30% takes 10x, and automating the next 9% takes 100x and operating the final 1% is essentially impossible. So if you came to the table with the goal of 100% automation right out the gate you'd spent 10 years developing something with little to show.
I think full automation of some systems is possible, but is actually blocked by generational norms. By and large the systems that "Ops Plus" startups are attempting to automate were designed by people who are not digital natives. They're not illiterate, but things like instant messaging, async communication and and structured data are not natural primitives for them. I'm not saying everyone in the Fortnite generation is a master data modeller, but I think that when they join the workforce they'll set up systems that are much more feasible to automate.