AVIF is a one-way street in a browser
Every current browser can display an AVIF. Not one of them will save an AVIF. That asymmetry is unusual, and it is the single most useful thing to understand about this format.
Decoding arrived quickly because AVIF is built on AV1, a video codec browsers already had. Encoding is a much heavier job: an AVIF encoder is slow, memory-hungry and complicated, and no browser has chosen to expose one to a web page. The result is that a browser is an excellent tool for getting out of AVIF and no help at all for getting into it.
This tool tests what your browser can write when the page opens, and takes off any format it cannot. That is why there is no AVIF button here on Chrome or on Safari. A browser asked for a format it does not have does not return an error: it hands back a PNG wearing the wrong file extension, and a mislabelled file is worse than a missing button.
Why you have an AVIF at all
Most likely you saved a picture from a website. AVIF compresses photographs roughly 20 to 30% better than WebP and around 50% better than JPG, so sites that care about their bandwidth have been switching to it since about 2022. You right-click, save the image, and end up with a file your desktop declines.
The other common source is a phone. Some Android builds and some camera apps now write AVIF by default, in the same way iPhones moved to HEIC. If your files came off a phone rather than off a web page, the size and quality are likely to be much better than a web AVIF, and converting at quality 92 rather than 85 is worth the extra kilobytes.
What you lose in the conversion
Transparency. AVIF carries an alpha channel and JPG does not, so any see-through area comes out white. If that matters, use AVIF to PNG instead, which keeps it.
Colour depth. AVIF can store 10 or 12 bits per channel and describe an HDR picture. JPG stores 8 bits and has no HDR concept, so a wide-gamut or high-dynamic-range AVIF is flattened into ordinary sRGB. On a normal photograph this is invisible. On a deliberately HDR image it is a real change, and there is no setting here that avoids it.
Metadata. EXIF, colour profiles and GPS coordinates are attached to the file rather than the picture, and none of it survives the trip.