Yeah with advances in software and AI you could also manage the economy much more efficient and in real time than the old "planned economy". Shortages and problems could be handled quickly. With crowd funding you could also have banks providing funds for new enterprises (collectives / coops) by people voting democratically on what to approve.

The issue is that I haven't seen any serious work on improving socialism, which most socialists seem to think is a heretical concept. So there is a lack of valid alternatives to capitalism that people can imagine. And the power balance and technology for propaganda to control the population and weaponry and tactics the stage manage protests has advanced too.

And then there is the issue that no matter what ideology and system, those who desire power or wealth above anything else are more likely to attain it, and we haven't yet found good antibodies to this fundamental problem of managing power. Or even know about it.