As far as I can think of, none. That is in the general sense. It all depends on the application and if it supports the JPG format. If it does, there is no reason not to use this unless you have specific needs. This format is widely used.
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The JPEG does not support transparency or it does not work well for logos and icons. Also JPEG file format that has made it so popular is the fact that it doesn’t take up much storage space. But small files size is the type of compression that is used. The compression algorithm is lossy, which means data is discarded when the file is compressed. By any chance, if it is your homework, you have to read your study materials for solid knowledge.