No, signature-based technology can’t keep pace or protect against unknown or dynamic threats. It protects for known malware and it can take days to update the databases. It won’t protect you against mobile network attacks and device exploits either.
Antivirus solutions covers signatures for Apps but is not capable of detecting attacks that are happening in other sandboxes.
Mobile AV cannot detect the following attacks:
1. Malicious chargers / PCs
2. Browser exploits
3. Kernel exploits
4. IPv4 and IPv6 attacks.