AC is less efficient than DC at a given voltage. The advantage of AC is that voltage switching is cheap, easy and efficient. Switching DC voltage is way harder, more expensive, and less efficient. However the switching costs are O(1) and the transmission losses are O(n) so for some distance (currently somewhere around 500 km) it's worth paying the switching cost to get super high voltage DC. The big thing that's changed in the last ~30 years is a ton of research into high voltage transistors, and fast enough computers to do computer controlled mhz switching of giant high power transistors. These new super fancy switching technologies brought the switching costs down from ludicrous to annoyingly high.