Am I the only one who remembers when that was the stuff of science fiction? It was not so long ago an open question if machines would ever be able to transcribe speech in a useful way. How quickly we become numb to the magic.
For example, for automatic speech recognition (ASR), see: https://huggingface.co/spaces/hf-audio/open_asr_leaderboard
The current best ASR model has 600M params (tiny compared to LLMs, and way faster than any LLM: 3386.02 RTFx vs 62.12 RTFx, much cheaper) and was trained on 120,000h of speech. In comparison, the next best speech LLM (quite close in WER, but slightly worse) has 5.6B params and was trained on 5T tokens, 2.3M speech hours. It has been always like this: With a fraction of the cost, you will get a pure ASR model which still beats every speech LLM.
The same is true for translation models, at least when you have enough training data, so for popular translation pairs.
However, LLMs are obviously more powerful in what they can do despite just speech recognition or translation.
The problem with Google-Translate-type models is the interface is completely wrong. Translation is not sentence->translation, it's (sentence,context)->translation (or even (sentence,context)->(translation,commentary)). You absolutely have to be able to input contextual information, instructions about how certain terms are to be translated, etc. This is trivial with an LLM.
Also the traditional cross-attention-based encoder-decoder translation models support document-level translation, and also with context. And Google definitely has all those models. But I think the Google webinterface has used much weaker models (for whatever reason; maybe inference costs?).
I think DeepL is quite good. For business applications, there is Lilt or AppTek and many others. They can easily set up a model for you that allows you to specify context, or be trained for some specific domain, e.g. medical texts.
I don't really have a good reference for a similar leaderboard for translation models. For translation, the metric to measure the quality is anyway much more problematic than for speech recognition. I think for the best models, only human evaluation is working well now.