Google Mania in Image Format

Do u think there is an alternative for JPG file?
If you don’t obsessively follow the world of image formats, here are the cliff notes on WebP (pronounced “weppy”):
 

The new format promises image file sizes that are up to 40~60 percent smaller than JPGs, and it’s based on an open-source codec that Google released. WebP offers a number of advantages,  including faster downloads and a better mobile browsing experience…

can see some examples here

More info