Google released a new open-source image compression algorithm, called Guetzli, which promises to reduce JPEG file sizes by 35 percent more than other methods without sacrificing image quality, allowing websites to load faster.
Images pushed through the Guetzli encoder are still available in a regular JPEG format, making them compatible with just about every application and browser currently on the market.
The technology behemoth does state, however, that Guetzli takes “significantly longer†to compress images than alternative solutions. Although, it believes the quicker loading time on websites is worth waiting longer for pictures to be compressed.
In the example below, you can see the uncompressed original image on the left, libjpeg (another image compression tool) in the middle and Guetzli on the right. We’ll let you decide what one does the best job (hint: it’s Guetzli).

Article source: https://www.technobuffalo.com/2017/03/17/googles-new-jpeg-encoder-reduces-file-sizes-by-35-percent/