Google is constantly trying to expose the Internet to as many people as possible, mainly because that is the cause of them being a multi-million dollar business! The business goal of Google is to provide information services over the Internet. And Google is slowly but surely tweaking the weak spots of information service giants. For example, Microsoft has been dominating desktop applications for decades, but their influence on Internet related services has not been quite up to the same level. With Google Chrome, Google has officially entered the browser wars.
The features of the browser include: 
- It is based on Webkit and will include Google Gears.
- It has a browser extensions framework that will allow it to make Adobe AIR-type hybrid apps.
- It has tabs, auto-completion, and a dashboard-type start page that can help you get going to the web services you need. Opera has such a dashboard.
- It has a privacy mode that allows you to use the machine without logging anything on the local machine. It might be similar to a feature called Incognito in the latest version of Microsoft IE.
- Malware and phishing protection would be built into the browser.
Opening a new tab on your will no longer result in a blank page. You will be able to see the browser history, the most frequently visited pages will all be available at a single mouse click. Allowing all the more space for users for a richer, user friendlier browsing experience which will in return encourage more people to use the Internet.
Asked if Google were trying to compete with Firefox, Sundar Pichai, vice president of product management at Google said "Our hope is that by adding our voice, we expand the overall pie. Our hope is that by adding our voice, more people realize there is a choice in browsers. "
Who said competition can hurt? ;-)