This is already getting really exciting. Some government entities (including lower levels like local, county, and state governments) have moved to digitizing their old paper and microfilm records. But if they're expected to maintain many types of records essentially forever, it places a constant burden to continue to update and migrate data in perpetuity, whereas paper or microfilm can sit in a box in a closet for decades.
For the most part, common file formats like PDFs, JPGs, and TIFs are likely to be understood for a very, very long time, but you don't just have file storage, you have systems to manage, index, and find those files, and those systems are likely to need constant maintenance.