Traditionally, the product of photography has been called a photograph. The term photo is a convenient abbreviation. Many people also call them pictures.
In digital photography, the term image has begun to replace photograph. This term is neither more nor less correct than photograph, either in film or digital photography. (The term image is traditional in geometric optics.)
Although not viewed by all photographers as true photography, digital photography in fact meets all requirements to be called such. Even though there are no chemical processes, a digital camera captures a frame of whatever it happens to be pointed at, which can be viewed later.