If you’re a seasoned Google Hangouts user you should be aware that the service will be going away in 2021 to be split into two separate services, Google Chat and Google Meet, that are both from Google’s business oriented G Suite.
Both Google Chat and Google Meet will look familiar to some as they share characteristics similar to their competitors. Google Chat is much like Slack in that it can be used for private discussions, group chats, or public and private message boards that can be shared. Google Meet is essentially their version of Zoom video chat that lets you video call with one or several people. Current Google Hangout users get a Google Meet link when they initiate a video call and when the transition away from Hangout happens next year, the app will be completely replaced by Google Chat.
While Google has claimed that they will be migrating all chat history and contacts from Hangouts to Chat free of charge, it might still be a good idea to export it all to separate storage in the event the transition doesn't go as smoothly. You can actually archive your Hangouts information via Google Takeout with a few simple steps you can find here.