For people who do not have talent to study as fast other languages as others, Google translate has become a key tool for understanding foreign websites and someways communications between other nationalities. Although its lacking the full understanding of language systems and give sometimes quite funny and incorrect answers, it has proven its need and function as normal dictionaries do not allow to put together sentences.
My idea is to apply the same application on phones for live translation to give the opportunity to communicate with people more efficiently between two people who perhaps do not share the same language. It could open the world more and make everything more easier to everybody. This way nobody can loose themselves in translation.
For this to work, it should need a lot more development and intreats in it. Google should focus more on languages and could hire one group of people from each country to focus on their side of the language and constantly improve it. Even when countries share the same language, then slang and everyday uses can be very different. For example, there is a big difference between Mexican spanish and Spanish spanish. Mexican one has a huge influence by American english. Also UK and US english is different as their slang differs quite a lot.
The key functions to insure its popularity, should be that people's voice will be still the same. The application should have so called invisible translator to give it more natural feeling. Nobody would not want to listen for a robot or exchange their normal communication for talking with a machine.
The biggest downside for this is definitely the fact that people will become more lazier to study other languages and therefor other cultures. It would narrow peoples view as for example the popular use if english has done. It is very hard to learn other languages when everybody can already share one, even though the knowledge level is very different from country to country and person to person.
The application would bring people more together and would give opportunities for people who have not being able to learn other popular languages to discover something new. For example most of Estonian elderly people can not speak english, so therefor traveling for them can be quite difficult as they can not communicate with local people. The application would change their experience and would give them a new point of view to other cultures.