JPEG XL, the next-generation image codec standardized by the JPEG Committee, combines the best of Google’s PIK and Cloudinary’s FUIF codecs. It focuses on strong psychovisual modeling, preservation of detail, and efficient cropped decoding of large images. The codec is legacy-friendly, allowing a smooth transition from existing formats to JPEG XL. A key highlight is its support for responsive design and universal compatibility. Unlike other codecs like HEIC and AVIF, JPEG XL is royalty-free and provides reversible transcoding from JPEG. With unique features like XYB color space, JPEG XL aims to surpass existing image formats in functionality and compression, potentially becoming the standard for the next 30 years.
https://cloudinary.com/blog/how_jpeg_xl_compares_to_other_image_codecs