Images Format for SEO Friendly Content

Hello!
Just want your opinion about what is the best image format for SEO friendly content considering we want to reduce LCP. I think JPG and PNG requires a lot of space, and I am wondering if other most recently format can help in compact them.
Thanks in advance!

It’s best to use WebP format for images these days. There are lots of free platforms out there to convert your images or you can use graphic design programs of course. Here’s a forum thread that dives deeper into the various options.