The benefits of AVIF are easily explained. AVIF is an image format optimized for compression. It is delivered in a royalty-free and open-source environment, aiming for quick adaptation due to no license fees.
Due it's wide range of features including High Dynamic Range, it fits better into today's quality demands for pictures.
Because of its powerful compression, AVIF will reduce data usage and increase website performance. Web hosts and internet storage providers could lower their costs for providing high-resolution video content.