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To save a file in illustrator, press CTRL+S. After giving the name, press save. You will see an illustrator Options dialog box. You have to define a version. Also, enable PDF-compatible files. This file will save with [.ai] extension.
If you want to save a file in another format, click on SAVE AS from the file menu. You will see many options in the save as type tab. Select according to your requirements. In PDF format, you will get more options for sizing, compression, security, etc.
You can directly make a template from the file menu. To save a file as web, click on save for web. There are several options listed like Photoshop, JPEG, CSS, and PNG in export type, etc.
In JPEG options, you can change the color model. Also, you can set resolutions as per your choice. This way, you can save a file in many file formats in illustrator.
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