AI models have made significant strides in recent years in their ability to describe and answer questions about real-world images. They have also made progress in the ability to converse with users in real-time using audio input. This raises the question: have we reached the point where AI models, connected to a camera and microphone, can converse with users in real-time about scenes and events that are unfolding live in front of the camera? This has been a long-standing goal in AI and is a prerequisite for real-world AI assistants and humanoid robots to interact with humans in everyday situations. In this work, we introduce a new dataset and benchmark, the Qualcomm Interactive Video Dataset (IVD), which allows us to assess the extent to which existing models can support these abilities, and to what degree these capabilities can be instilled through fine-tuning. The dataset is based on a simple question-answering setup, where users ask questions that the system has to answer, in real-time, based on the camera and audio input. We show that existing models fall far behind human performance on this task, and we identify the main sources for the performance gap. However, we also show that for many of the required perceptual skills, fine-tuning on this form of data can significantly reduce this gap.