Google has developed a number of technologies that you can use to start experimenting with and exploring the potential of generative AI to process data that needs to stay private.
Purely from a cloud aspect here, they're making sure that separate GCP instances are completely private, I see some benefits if you have users who are HIPAA users making sure that data isn't shared or trained on at all. It's good they're thinking of this, but it's just from a company perspective.
For users it means very little though. Google isn't going to make private AI for us to use. This is purely if they have a health provider (for example) on GCP they can use models in a private way.