Not only is it not a new thought, but it's been the holy grail of large software companies for at least 30 years. You'd be surprised at how much money has been spent researching this problem. And, for those just coming into software engineering, this isn't a good sign. I see a lot of software engineers that don't fear the risk of automation. But, because software development is such a huge cost center and so much is controlled by software developers, complete automation is one of the most sought after technologies.

I don't mean to spew hyperbole, because complete automation is likely very far off. But, I just wanted to point out the market forces behind this type of technology are gigantic.