At this point in time, we definitely don't have to processors to handle it. But it won't take long. It was only a few decades ago when a computer was the size of an entire room, and modern smartphones are much more powerful than those used to be!
An important step forward will also be internet speeds. Once 5G rolls out then we'll be able to cope with these kinds of data transmissions much easier as well. This also paves the way for virtual environments (VR, AR) being used in daily life, such as meetings, school, etc.