From WILL - Ag Notes -

Skype Capable of Realtime Conversation Translation

Skype, now owned by Microsoft, may soon be able to translate speech in real time. The company demoed this new kind of magic on stage. It would allow people to converse in their native (but different) languages. Skype is one of Todd's favorite broadcast tools. He uses it every day and cannot wait to see how it might handle a conversation translation about on farm conditions in China, Ukraine, Argentina, and Brazil.

Skype "Magic"