Yes, it can be done to a limited degree now. But it is at such a crude state that it takes more work than creating an animated film. Artists have to slave at graphics workstations just to create a few seconds of finished work. When the technology is ready it will then be very easy to turn a complete script into a film in just a few hours.
Imagine being able to create a finished film in 3D or as a virtual environment just by loading a script into a computer and fine tuning the details in real time.
In 15 years computers will be millions of times as capable as they are today....computer power grows exponentially...seems slow at first but we are nearing the point where the curve turns nearly straight up.
Actors will soon have a lot of cheap virtual competition.
Especially from Asia......................