When lossless is worth the size
JPG compression works by discarding detail the eye is unlikely to miss. On a photograph that is almost free. Around high-contrast edges — the outline of a letter, the stroke of a chart axis — it produces visible haloing, and once introduced it cannot be removed.
PNG stores every pixel exactly. For a diagram going into a slide deck, a screenshot going into documentation, or a page of text becoming an image, that is the right trade even though the file is several times larger.
For scans and photographs it is the wrong trade — use the JPG tool instead.