Can A New Open Photo File Format Replace JPEGs?

Got lossless compression? An anonymous reader quotes CNET:
Google, Mozilla and others in a group called the Alliance for Open Media are working on a rival photo technology. In testing so far, the images are 15 percent smaller than Apple's HEIC photo format, said Tim Terriberry, a Mozilla principal research engineer working on the project. But smaller sizes are just the beginning... it's got a strong list of allies, an affinity for web publishing and modern features that could make it the best contender yet for overcoming JPEG's 1990s-era shortcomings... JPEG isn't just limited by needlessly large file sizes. It's also weak when it comes to supporting a wider range of bright and dark tones, a broader spectrum of colors, and graphic elements like text and logos...
The HEIC's new rival is from the Alliance for Open Media, a group whose top priority is a video compression technology called AV1 that's free of patent licensing requirements. It's got heavy hitters on board, including top browser makers Google, Microsoft, Mozilla and the most recent new member, Apple -- though Apple's plans haven't been made public. And it's got major streaming-video companies, too: Netflix, Amazon, Hulu, Facebook, videoconferencing powerhouse Intel and Google's YouTube. And with the support of chip designers Intel, Nvidia and Arm, AV1 should get the hardware acceleration that's crucial to making video easy on our laptop and phone batteries.
To use Apple's HEIC, "makers of software, processors and phones must jump through a lot of hoops to license patents," which CNET predicts "means HEIC will have trouble succeeding on the web: patent barriers are antithetical to the web's open nature."