The collaboration between UBS, CERN, GESDA and the other firms wants to bring businesses and individuals together to collaborate on initiatives connected to the Sustainable Development Goals (SDGs) of the United Nations through science diplomacy.

In its projects, the OQI aims to fully utilise quantum computing’s potential to hasten the goal of attaining the SDGs and addressing some of the challenges, including those related to health, energy, combating climate change, clean water, and food security.

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For processing capacity that is far superior to what classical computers are capable of, quantum computing makes use of quantum mechanics.

Although technology remains in its early years, quantum computing is anticipated to have a significant influence on society and a variety of fields, including finance, chemistry, and materials science.

UBS, CERN, GESDA and the OQI

Over the following years, UBS plans to serve as a main partner to the OQI by contributing funds of up to CHF2m ($2.2m) yearly and strategic knowledge, with group chief risk officer Christian Bluhm joining the foundation’s advisory board.

Furthermore by participating, UBS assists Switzerland’s renowned universities and contributes to the nation’s quantum computing industry while remaining in touch with the most modern scientific research.

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Bluhm commented: “We’re delighted to have been chosen as a lead partner to the OQI and to support the coming together of scientific research, business and government for the common good.”

“Today, we are demonstrating that we are a think-tank that is also capable of carrying out large-scale projects. The OQI shows that science diplomacy, which aims to revitalise multilateralism by turning it towards action, leads to success,” said Peter Brabeck-Letmathe, chairman of GESDA.

Federal councillor Ignazio Cassis added: “The world needs proactive scientific diplomacy. With the Open Quantum Institute, we have the first concrete proposal on how international governance can prepare for the challenges of the 21st century. I’m convinced that Switzerland must dare to take this path.”

CERN director-General Fabiola Gianotti concluded: “By the nature of its research, the technologies it develops, and its open science approach, CERN is well positioned to promote the application of transformative technologies to society. We are proud to be hosting the three-year pilot phase of the OQI.”