JPEGs have been the standard for images used on websites and digital cameras for well over 10 years. At this year's Photo Marketing Association (PMA) 07 trade show, Microsoft unveiled what it hopes will eventually replace JPEGs in every segment of the market. According to Microsoft, its new HD Photo format, formally known as Windows Media Photo, offers lossy compression that is twice as efficient as JPEG while containing fewer artifacts. HD Photo also offers lossless compression which retains the full dynamic range and color gamut straight from the camera's image sensor. DailyTech has more.