Thornir Alekeg
Albatross!
I could see the elimination of the GM as we currently see with some technological innovation, and some agreement to cooperatve DMing.Eliminating the gamemaster doesn't have to eliminate the imagination. Thinking like this is the sort of thing that will hinder the next innovation. The innovators don't think "this will never work" they think "how can I make this work?"
I consider the amount of weight on a gamemaster to be one of the biggest hurdles to get people into the game. So much responsibility for the game lies on their shoulders that a bad GM can prevent people from trying the game again.
A good place to look for innovation in RPGs is at the role of the gamemaster. Can we take the role and spread out the responsibilities among the players. Can we come up with a way to create "crutches" to help the fledgling or below average gamemasters without hindering the inspired?
Changing the role of the GM, or possibly even eliminating it, is a very good place to look for innovation in RPGs.
Take an adventure path style game, create a set of digital tools designed to hold the information and present it to the players when appropriate. Players mark where they are going, the system presents a description of the area the players see for somebody to read. When PCs enter combat, the system presents a listing of the opponents. Players would have to make decisions about the opponents attacking since there isn't a GM to do that, and a computerized system to do so would be complex, but the system could provide a basic decision tree to the players based upon what the author of the adventure expects (Orc # 1 will typically charge the PC who appears to be the most powerful or attack any PC attacking the Shamen. Orc #2 will typically fall back and provide cover with his bow, will use X encounter power if drawn into melee).
When a player decides to do something in game that requires adjudication beyond a straight rule decision, other players could be provided with a system to privately enter their decision and the system would tabulate and present the results.
This probably won't work will for more free-form sandbox games, or more roleplaying intense games, but could be done with more linear hack-n-slash style games.