I came across in one of newsletters and solution it explained was Knockout.js and it was
first introduced in 2011 Mix conference.
Here is the video link: http://channel9.msdn.com/Events/MIX/MIX11/FRM08
and here its documentation: http://knockoutjs.com/documentation/introduction.html
further reading: http://knockoutjs.com/documentation/observables.html#mvvm_and_view_models
Further reading revealed, that it not a technology but it is a technique, it is not alternate or neither in any way compete to jQuery or any DOM APIs, it is just a technique of binding model objects with view in a AJAX way!
Try to grab the understanding and see if it fits your solution and share your experience.