JPG to WebP
Your images never leave this device
WebP compresses photographs about a third better than JPG does at the same apparent quality. If you are putting images on a website, that is a straight saving with no visible cost. If you are sending a file to somebody, JPG is still the safer choice.
How to convert JPG to WebP
This is a re-encode, so it is worth being clear about generational loss: the JPG already discarded detail, and WebP now discards a little more from what is left. In practice this is invisible at sensible quality settings, but it does mean you should convert from the highest-quality original you have rather than from a file that has already been through several rounds. If you still have the camera original or the export from your editor, start there.
Questions
For photographs, usually 25 to 35 percent at matching visible quality. The gain is smaller on images that were already heavily compressed.