Note: please don't turn your screenshots and digital art into JPG. JPG uses compression based on natural lighting. It works well for photos, but it's the wrong solution where run-length encoding will do much better (e.g. in screenshots). Black text (or cartoon art) on white backround always looks lousy when converted to JPG.
What should we use instead?
For final export? AVIF, JpegXL, maybe even WebP (lossless mode).
PNG kinda sucks for high resolution stuff because decoding is extremely slow. The way PNG does lossless compression also only really works with flat graphic design, anything with gradients or texture blows up the file size.
Generation Loss: JPEG, WebP, JPEG XL, AVIF [1]
Generation loss: FLIF vs WebP vs BPG vs JPEG vs MozJPEG [2]
>> What should we use instead?
> AVIF, JpegXL, maybe even WebP (lossless mode).
Definitely not lossless AVIF. It is less efficient than lossless WebP. WebP is supported everywhere, but is not much more efficient than optimized lossless PNG. Lossless JPEG XL has the best lossless compression but can't be used for web without fallbacks.
So, for offline archival: JPEG XL.
For web use without fallbacks: lossless WebP.
For web use with lossless WebP fallback: JPEG XL.
>> What should we use instead?
> AVIF, JpegXL, maybe even WebP (lossless mode).
Definitely not lossless AVIF. It is less efficient than lossless WebP. WebP is supported everywhere, but is not much more efficient than optimized lossless PNG. Lossless JpegXL has the best lossless compression but can't be used for web without fallbacks.
So, for offline archival: JpegXL.
For web use without fallbacks: lossless WebP.
For web use with lossless WebP fallback: JpegXL.
PNG