Can Facebook ads take on Google Adwords?

According to Inside Facebook, the social media giant could reach this year the billion point mark in terms of revenues. Half of that comes from ads.

Keeping on mind this, do you think that Facebook ad platform represents a serious threat to Google Adwords?

This is a sentence I read from an article on Daily India:

"Much of Facebook’s revenues comes from advertising with half of that coming from their ad platform. Facebook ads are still in its infancy when compared to Google Adwords and it pales in usability and efficiency to Google’s. But if improvements continue it may challenge Google down the road as the top ad platform on the net."