No, what is needed are not cameras. What is needed are some combination of:
One thing you missed: Better traffic lights.
Traffic lights do contribute to delays of traffic flow. They slow down traffic, and the contribute to useless delays, as anyone who has sat at a long red light, waiting for cross traffic that doesn't exist.
I'd argue that any large country (I'm looking at you, US) has an incentive to improve traffic light. Right now, the most common intelligent traffic light has ground loops to detect when cars are at the intersection. In this day and age, couldn't we do better?
Imagine a traffic light that could "see" traffic approaching from a distance. It could also see traffic backed up to the light. Instead of turning red when a car or two is approaching and the cross traffic is non-existent, it could remain green. Instead of turning green when traffic is backed up to the light, it could let other traffic, which is clear to continue, go.
Just imagine the time and fuel savings!
And finally, I'd have to say, in this day and age, sometimes intelligence is overrated (even though this negates the above). As a young adult, the traffic lights in my town sensibly shifted to blinking yellow and red at late hours when the traffic was light. The most common through traffic would get blinking yellows. The underused cross streets would get a blinking red. Then, years later, they replaced the traffic lights with a more modern type that would detect when a car was waiting and change the light. This was useless in a small town - approaching from a cross street would result in a longer delay (as the other light would go through a yellow/red change), and if you were on the main street when a car had to cross, you'd have to wait for the red/green change for just one vehicle.
Really, considering how much time Americans spend on the road, and how much time is lost, small improvements result in a big gain in time not lost and gas not burned.