"We are still working on improving the system," Gilles Gerlinger, the product's co-founder, told the BBC.
"You can do conversations with one person, but we want to allow conferences with 10 people and four different languages, and the system would provide translations in every language needed.
"We also have a project called MyVoice which can have a synthetic voice that sounds like your real one."
Mr Gerlinger suggested that his firm would make money from the product by renting servers with the necessary software to big businesses, and charging smaller ones a fee for the amount of time they used the service.
Despite the ambitions of those involved in the nascent sector, one analyst questioned their chances of success
"These kind of real-time technologies have been 'two to three years away' for the past decade," said Benedict Evans, technology expert at Enders Analysis.
"Both speech recognition and machine translation are sort of there if you're not too fussy.
"But they are generally not as good as speaking the language itself, and my suspicion is that they would not reliable enough to use them for business purposes when you need to be really sure about what the other person said."
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