There's definitely a space for it. It may even be possible. But if you consider the long history of lisp discussions (flamewars?) about "a sufficiently smart compiler" and comparisons to C. Or maybe Java vs C++, it seems unlikely. At least very very difficult.

There are little bits of research on algorithm replacement. Like, have the compiler detect that you're trying to sort, and generate the code for quick sort or timsort. it works, kinda. There are a lot of ways to hide a sort in code, and the compiler can't readily find them all.