A device that can more or less instantly translate any language as someone speaks it has long been a dream of science fiction. And while the NEC TeleScouter isn't quite the Babelfish you're looking for, it's a step in the right direction. Unfortuantely, the device is quite a bit bulkier than it appears in the photo below. It requires a computer strapped to your waist, which then transmits the info to a remote server that does the translation.

From GizMag:

The device mounted on an eyeglass frame consists of the retinal display, front-mounted camera and microphone, but doesn’t perform the translation itself. Rather the microphone picks up the conversation and transmits it to a portable computer worn on the user’s waist. This computer in turn transmits the information to a remote server, which is responsible for carrying out the heavy processing of converting the speech to text, translating it and sending it back to the wearable parts of the system to be displayed on the retinal display.

This configuration allows for a device that is small and lightweight enough to be worn comfortably, without chewing through battery power. And since the retinal display projects the text into the user’s peripheral vision they are able to maintain eye contact with the person they are talking to. Also, because the wearer doesn’t have to focus their eye on the displayed text, the device can be worn for extended periods without eye strain.

At present the device’s translation abilities aren’t sufficient for real world applications, so NEC plans to initially market the device as a wearable hands-free data display that could be used to show engineers and on- and off-site technicians user guides and manuals while installing or repairing hardware. The system would also allows instructions from a single expert to be delivered to multiple personnel wearing the devices, while recording the repairs is captured by the front-mounted camera.