Angular: How is JIT compiler faster than AOT?

Question

I know that AOT compiled apps are faster as compared to JIT compiled apps in terms of the download time(AOT compiled apps are smaller in size) and the initial start time (no need to compile in the browser). But while reading on this topic, the advantage of JIT that is mentioned almost everywhere is that it's a better option for development as we are able to see changes instantly. Which means that JIT compiler is faster than AOT compiler in terms of the actual time needed for compilation. How? Both have to do the same task of generating the code needed to render the application.

If they are not different in terms of the compilation speed then why do we even need JIT during development. Because every time we make a change, the entire app is loaded again, which means JIT has to recompile everything again. Now whether this compilation takes place on the dev server or browser is one and the same thing.