But the basic ideas remain the same. There are a number of novel and elegant techniques such as embedded zero-tree processing, set partitioning and adaptive wavelets. Mindful that one of the main reasons for the failure of M-JPEG to establish itself in the TV industry was the 44 implementation options, great care has to be taken to avoid a repeat with wavelets. The JPEG-2000 group has already addressed this risk. Of course better compression systems will come along but these can only be adopted where they will not undermine the existing digital infrastructure.
Wavelets have an important part to play.
It is for you, the manufacturers, to turn good technology into good business. As a mathematical concept, Wavelets have been around since the 1930s and their application extends far beyond image compression.