Sure it may be more convenient and easier to use your digital camera at the manufacturer default settings. With many if not most consumer and even prosumer, digital cameras the default setting include saving in JPEG and very frequently the colorspace used for saving is sRGB. And with some cameras the parameter default settings for the on-board processor also increase contrast and saturation.
JPEG is in computer time, a relatively ancient file format standard. It has been reported to me on several occasions user have had difficulty due to corrupted JPEG files stored on their hard drives. But of greater significance is the fact the JPEG lossey compression processing throws some "redundant" information away. Your net getting all of the image information your camera's sensor recorded. And then there is the additional danger for those unaware, you should not re-save in the JPEG file format after opening an image file and editing it. Each time a JPEG is re-saved the compression processing is repeated, throwing even more valuable image data away.
A default sRGB color setting can reduce the range of colors your camera's sensor is capable of recording because the sRGB space is quite small and clips color information. The reason is the sRGB color standard was based on the lowest common denominator of color that could be displayed by the average computer CRT monitor display some 10 years ago. Your camera's sensor is capable of recording many more variations in color than the sRGB standard colorspace, about as much as is captured by Ektachrome slide film.
If your camera's default parameter setting includes a contrast increase in the on-board processing done by the camera when saving to a JPEG file, then if you are out in full sun taking a scenic picture you may find the contrast increase pushes some image information out of gamut, clipping valuable shadow detail and possibly washing out some highlight detail.
To get the most image quality and subject information in what you take with your digital camera, read and study the documentation available with your camera. You may be able to use the LCD displayed menu choices to manually set your camera. If your camera supports RAW format you may want to choose that setting even though it may mean a bit more editing of your images after they are downloaded. If your camera has a "parameter" color choice settings, you may want to choose Adobe RGB if available. Some cameras have included a setting that that has the same effect as RAW so all of the color information the sensor records is saved in your file, sometimes designated as the "computer" setting. And many cameras have parameter options for contrast and saturation, usually with the option to zero any modification.
Using the RAW option, or zeroing any internal camera processor adjustments should provide all of the image information you camera sensor records. Then if your images are not as bright and colorful as you'd like, it is better to use even the simplest photo editing software to adjust the images because you can see on screen what the result will be.