What is the Google Tensor G3 chip and how is it different from Tensor G2?

Google just had its huge event to announce the Pixel 8 series of smartphones (along with some other fun gadgets). The company announced a new version of its custom Tensor processor to accompany the phone’s announcement. The Tensor G3 builds on the technology offered by the G2 in some notable ways that should be quite exciting for people who purchase Google’s latest smartphones.