Comment by eurleif
It's no doubt possible to have translation with less lag on average than current tools like Google Translate's Conversation Mode, but truly real-time translation is impossible because of word order differences. You can't translate a word you haven't heard yet.
Reminds me of a letter to the Times regarding German word order (and the fact that the verb often comes last)
> Sir, Your reader's reference to German word order reminds me of a UN meeting at which I worked when the German delegate ranted for ages while all French eyes turned to the French interpreter booth. The interpreter witheringly interjected "j'attends le verbe".