No, we need a better source of power, one that can be used more efficiently, leaving less heat to be dissipated. In addition, the miniaturization of various electronic trinkets reaches a point where the power source or battery is by far the largest physical component, and the limiting factor on how small a trinket can get. My cell phone is a marvel of miniaturization, so small and light, until you attach the battery. Then it isn't particularly small or light. If it wasn't for the power problem, I imagine the watch could be made to fit on my wrist, a la Dick Tracy.
Transportation is more involved issue.
I am speaking about the transportation of people, goods, information, everything. Anybody who has to drive to work knows that people transportation is a problem, even in medium-sized towns. Many other problems, such as air pollution, have their roots in this same people transportation problem. Here in Dallas, Highway 75 has been under construction for something like 10 years, constantly ripped up to the extent of being a hazard for all drivers. Exits randomly open and close, and the plans have been revised several times to incorporate new features such as the light rail system that has just been put into place.