Even if not just one, but several languages are spoken at an event, the spoken word can be transcribed and translated live. All you have to do is change the output language before the person speaking the other language starts speaking.
After creating the session, you can select the spoken language via the tab in the "Input source" area. You can also change the output language during a session without having to create a new one. All you have to do is click on "Stop recording", change the language and then click on "Start recording" again.