SKYPE TRANSLATOR: Real Time Speech Translation Demo Video
Further proof that we live in the future: Skype Translator can translate your verbal conversation over Skype in real-time. Microsoft has been developing Skype Translator for a few years now and finally has something ready for the public to get its hands on. The preview that you can sign up for now only translates English to Spanish and vice versa.
Skype Translator also supports immediate message translation for over 40 languages. No word yet on when other real-time translation pairs might be released. Based on the video, the translation seems to really have very low latency. I wonder if a predictive algorithm helps cut down on the latency we've seen from competing mobile apps.
If you want to test Skype Translate, you have to request an invite on Microsoft's Skype site and use code STVER4230 to get an expedited invite.
Source: The Verge