If you mean 'fully automate', Technically, yes. It would require an existing georeferenced image (a known map or air photo mosaic in the desired projection and coordinate system) to serve as the target, and your input raster image with at least one known good (e.g., NADAR at the center of the image). That one point will place the center of the image on the correct point on the target. Then image matching could occur searching for and creating tie points. Based on this the scaling, stretch of the input raster would be calculated and saved to the images world file (.e.g, .tfw). Project would then be run if needed as the last step to create the output image.
Have you looked at:
Auto Georeference | Automatically create control points for the source raster against a target raster. The source raster and target raster must be relatively close in terms of geographic location, spectral resolution, and spatial resolution for the autoregistration to work. |
