No. AC is still far more useful in many key scenarios [1]. However, for long-distance power transmission, lots of money could be saved (and jobs created in doing so) by switching from AC to HVDC.

[1] http://en.wikipedia.org/wiki/High-voltage_direct_current#Dis... (note: some of these are due to AC parts having economies of scale and decades of efficiencies and process that HVDC may not be able to tap into without widescale implementation)