What is the Universal Translator tool announced at Google's I/O developer conference?

What is the Universal Translator tool announced at Google's I/O developer conference?

• By Staff Writer

At its I/O developer conference, Google announced it is testing a translation service that redubs video in a new language while also synchronising speaker's lips with words they never spoke. Called "Universal Translator", the tool transcribes the speech; translates it; regenerates the speech in that language; and then edits video so that speaker's lips more closely match the new audio.