Storage is now an issue in the device especially if you take a lot of pictures. When the device is full, it needs to be uploaded to cloud storage which requires a monthly subscription anyway. To solve the data storage issue, Google introduced Jpegli which is an alternative to Jpeg format but with better image quality and smaller size.
Image size using Jpegli is up to 35% smaller than Jpeg. But according to Google, Jpegli images have lower noise and retain details better. It is also compatible with existing JPEG encoders allowing it to be used directly on web pages. Jpegli images also support 8 bit as well as 10+ bit encoding.
Jpegli will speed up the time it takes to open a website and at the same time reduce the load on the website browser. As for users, they can upload more photos with the same cloud storage size if using Jpegli.
Fourteen years ago Google introduced Webp with similar features but it failed to replace Jpeg as the image format of choice for the public and even online.