Barring some revolutionary new material where we can get EM waves to travel orders of magnitude faster through it over current stuff, I don't think we're ever getting around the latency problem.
It's usually not a speed of light problem. It's a problem of everyone optimizing for bandwidth, not latency, because that is the number that products are advertised with. Speed of light is 200'000-300'000 km/s in the media used, that should not be very noticeable when talking to someone in the same country.