Answer: BITMAP

A bitmap refers to a graphical representation of an image in which the image is composed of individual pixels arranged in a grid. Each pixel is assigned a specific color value, which collectively forms the visual output. Bitmap images are often used in computer graphics and can support various file formats, including JPEG. While JPEG stands for "Joint Photographic Experts Group" and is a commonly used file format for storing compressed digital images, the term "JPEG alternative" in the clue suggests that a bitmap is another option or alternative to consider when dealing with image files.

Note: The provided meaning of the answer is for the latest New York Times crossword puzzle clue: JPEG alternative. Explanations are generated by AI and may be inaccurate.