According to the platform, the feature will bring about the following:

When users are viewing a story post, a 'See Translations' banner will appear in the upper left corner of their story if a foreign language is detected. Currently, 90+ languages are supported. 

To translate, users can tap 'See Translations' and a translation will pop up. Translations are only available for text and not audio at this time.

For more information, visit www.instagram.com.