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Realistically, I don't think it matters. It sounds like the intent for this is that it be used in cases where lossless compression is required, and for large amounts of data. The vast majority of applications that JPEG is put to don't require any such thing. And it hardly matters if your vacation photos are 2 MB each and lossy with JPEG compression or 1.94 MB each and perfect with new compression, given that supporting new image formats always takes for-bloody-ever with browsers and the internet at large. If you have a medical scanner that produces 500 MB bitmaps that you need to ship around to other facilities without compromising the data, and this outperforms the compression allowed by existing interchange standards by a hefty margin, that's when this news is exciting.
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