JPEG XR is the newest image coding standard from the JPEG committee. It primarily targets the representation of continuous-tone still images such as photographic images, and achieves high image quality, on par with JPEG 2000, while requiring low computational resources and storage capacity. Moreover, it effectively addresses the needs of emerging high dynamic range imagery applications by including support for a wide range of image representation formats.  More information in the "Standards in a Nutshell" column in the IEEE Signal Processing Magazine.