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It's called "spell-jacking": Both browsers have spell-check features that send data to Microsoft and Google when users fill out forms for websites or Web services.
Privacy and security are something that all browser manufacturers like to brag about in relation to their products, with Google and Microsoft being no different to others in this regard. But if you are making use of the Enhanced Spellcheck in Chrome or Microsoft Editor in Edge, some highly sensitive information can be sent to the two software giants.