It's no surprise to me that James Cameron is currently developing a new sci-fi action film. Production Weekly recently tweeted the following:
James Cameron is developing a Shane Salerno-scripted sci-fi action script for Fox, described as an "event" film set in the future.
In case your wondering, Shane Salerno is the same guy that wrote Michael Bay's Armageddon. They don't say what the title is but there is speculation that it is called Doomsday Protocol, which was described by THR as an,
...epic science fiction adventure in the vein of "The Seven Samurai" involving a group of aliens and humans with various abilities who are brought together to save Earth.
There is no confirmation on if this is what they are going with or if Cameron is looking to direct the project or just produce it.
Regardless of what is actually going on here the world could always use a good epic sc-fi action film.