The document discusses the JPEG committee's efforts in standardizing image compression technologies, focusing on advancements like JPEG Pleno for new imaging modalities including light-field and holographic imaging. It outlines current projects and evaluations of next-generation compression systems, such as JPEG XT and JPEG XS aimed at improving quality and efficiency in various applications. The document emphasizes the importance of interoperability and collaboration within the JPEG community to address future multimedia needs.