Alphabet CEO Pichai says technology creates opportunity

Alphabet CEO Sundar Pichai says when talking about competition, it is also a conversation about opportunity.

"This has never been more important as the global pandemic poses dual challenges to our health and our economy," said Pichai.

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The CEO of Google's parent company Alphabet will appear on Capitol Hill on Wednesday along with  Apple CEO Tim Cook, Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg.

In prepared remarks, Pichai says the work his company does wouldn't be possible without the tradition of American innovation.

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"We now employ more than 120,000 Googlers around the world — more than 75,000 here in the U.S., across offices and data centers in 26 states. PPI estimated that in 2018 alone we invested more than $20 billion across the U.S., citing us as the largest capital investor in America that year," said Pichai.

The CEO will point out what innovation has been able to create at his company. " Survey research found that free services like Search, Gmail, Maps, and Photos provide thousands of dollars a year in value to the average American."

Pichai will point to the importance of using Google's digital tools during the pandemic and how Google ads helped companies stay in business.

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He says Google's future success is not assured due to operating in a competitive global market.

"A competitive digital ad marketplace gives publishers and advertisers, and therefore consumers, an enormous amount of choice," said Pichai. He added that it results in lower prices for consumers.

Pichai also believes that competition helps to create higher levels of security and privacy.

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The House antitrust hearing will take place Wednesday at noon eastern time.