HEIC is an iPhone photo format designed to save device memory. The main advantage of HEIC over JPEG is half the size at the same quality, and the ability to store files in the same heic container for Live Photo. Files in the format HEIC, as well as PNG support transparency, and support for 16-bit color. Also, the distinctive feature of the format is the ability to undo photo modification operations. You can convert HEIC files to another format without significant loss of quality.
This is the most common format of image files. JPG deserves its popularity because of its flexible data compression capabilities. If necessary, the image can be saved with maximum quality. Or it can be compressed to the minimum file size for transmission over the network or converted into any other format. JPG uses a lossy compression algorithm that greatly simplifies data transfer. In practice, saving a photograph with minimal compression does not cause any visible deterioration in image quality. That's why JPG is the most common and popular format for storing graphic files.