What are latest image format?

As of October 2023, some of the latest image formats include AVIF (AOMedia Video 1 Image Format), which offers high compression efficiency and supports advanced features like HDR and transparency. WebP continues to be popular for web use due to its balance of quality and file size. Additionally, HEIC (High Efficiency Image Container) is gaining traction, particularly in mobile Photography, as it provides superior compression while maintaining image quality. These formats are designed to improve performance and user experience in various applications.