I didn't watch the whole live stream so I cannot tell whether they have mentioned about privacy specifically or not. From what I saw from the phone spec, there is a new chip called "Titan M" built custom for the Pixel 3.
"Embedded in the Pixel 3 phones is a new security chip named Titan M. Google designed, manufactured, and integrated the chip into the phone's secure boot process. It's used to protect the lock screen passcode authentication process and to strengthen disk encryption. This same security chip is used in Google's data centers, the company says, which means the Pixel phones are getting enterprise-level security."
That's to prevent someone from logging into your phone. However, they didn't mention anything about privacy, which would be what happens when you're already logged into your phone, and Google is tracking what you do.
"Embedded in the Pixel 3 phones is a new security chip named Titan M. Google designed, manufactured, and integrated the chip into the phone's secure boot process. It's used to protect the lock screen passcode authentication process and to strengthen disk encryption. This same security chip is used in Google's data centers, the company says, which means the Pixel phones are getting enterprise-level security."
this is the quote related to the chip from Wired.
https://www.wired.com/story/google-pixel-3/