It is claimed to be the first 'smart earpiece' capable of translating between two languages.
The company behind the technology, Waverly Labs, said: 'This little wearable uses translation technology to allow two people to speak different languages but still clearly understand each other.'
Information about how the technology works is thin on the ground, with Waverly Labs simply claiming it uses 'translation technology' embedded in an app. MailOnline has asked for clarification.
It is thought an accompanying app enables both earpieces to toggle between languages and a video shows the Pilot translating a conversation between French and English with only a small lag.
At launch, it will support English, Spanish, French and Italian, with additional languages available 'soon after', including 'East Asian, Hindi, Semitic, Arabic, Slavic, and African.'
Some users will have to pay to get additional language packs.
The firm warned: 'Every language has various dialects and the earpiece is designed to translate common dialects, although thick accents could disrupt this.'
Waverly Labs plans to launch a crowdfunding campaign on Indiegogo where interested people will be able to pre-order the Pilot for between $129 (£90) and $179 (£125) but it's expected to retail for between $250 (£174) and $300 (£209).
Pre-orders are expected to open from 25 May, with the earpieces shipping between autumn and next spring, on a first-come-first-served basis. They will come in three colours.
The product will include two earpieces, a portable charger and access to the app, where languages can be downloaded for the earpiece.
The device is not the only one to aim to provide next-generation translation services to users.
The chief envisioning officer of Microsoft UK recently said that in the next five years, advanced technology will allow people of different nationalities to sit down and freely converse with just a smartphone between them, instantly translating their language in real-time.
Dave Coplin told The Times: 'At the moment we're at schoolboy French.
He added: 'In five years, two people will be able to sit down, put a smartphone between them, and as they're talking, the phone will translate their conversation seamlessly.'
Current technology, such as the Microsoft-owned Skype Translator, already allows for near-real-time translation of voice and video calls, in seven languages and instant messages in over 50, from Arabic to Yucatec Maya.
Launched last October, it records what the speaker says, uses a speech recognition system to convert the file to text, before relaying it through a robotic voice box.
Skype Translator currently works for English, French, German, Italian, Portuguese and Chinese Mandarin. Skype plans to add new languages in the coming months.
While modern systems analyse accents, idiosyncrasies, and dialects, over the next five years Skype plans to refine its technology even further, and asks users for feedback online in order to help it do so.
