For Raiffeisen Switzerland, the future of businesses depends on research, human capital and training in a context marked by a skills shortage.

Philippe Obrist has a close understanding of the dynamics that characterize the Swiss economy. With over thirty years of experience in the financial sector, of which fifteen were spent at UBS and five at the Banque Cantonale Vaudoise in Lausanne, since July 2023 is Head of Corporate Clients at Raiffeisen Switzerland at the national level. In this role he contributes to consolidating and developing relationships with approximately 220.000 active companies in the Confederation, supporting one of the most solid and diversified entrepreneurial fabrics in Europe.

The Swiss economic system is in fact largely based on small and medium-sized businesses. The 99,7 percent of the country's companies It is made up of SMEs with fewer than 249 employees, which generate a total of approximately two-thirds of all jobsMost of them operate in the service sector, while a significant portion is active in industry and construction, also contributing as an induced activity to large strategic sectors such as the pharmaceutical one.

In this context, the Red Cross country continues to stand out as one of the most innovative nations in the world. However, the country's competitiveness as research center and workplace is faced today with several challenges: from growing bureaucracy to shortage of specialized personnel, up to the transformations linked to the digitalization and artificial intelligence.

Philippe Obrist analyzes in an interview, opportunities and critical issues for Swiss SMEs, focusing on the role of the dual education system, on the importance of universities in the creation of innovative ecosystems and on the need to preserve the industrial "savoir-faire" of the country in an increasingly competitive global context.

Mr. ObristWhat is the situation in Switzerland as a research center and workplace?
Switzerland is one of the most innovative nations in the world, as evidenced by the number of patents per capita. A broadly diversified industry, strong SMEs, and typical Swiss virtues such as quality, efficiency, and precision form the basis of Switzerland as a business location. However, Switzerland's high level of competitiveness is only possible thanks to its dual education system and its leading universities.

What opportunities currently exist for Swiss companies, for example in terms of digitalization, artificial intelligence, or the attractiveness of the business location?
Digitalization provides Swiss companies with even greater innovative power. One example is the construction industry: thanks to BIM, short for Building Information Modeling, it is possible to optimize the planning and execution of a construction project, for example in terms of structural analysis or space utilization. Artificial intelligence is still generating buzz and will be put to the test in the future. But one thing is clear: like digitalization, AI will also impact the world of work and professions, but it will not simply replace the workforce—quite the opposite. According to the 2025 Opportunities Report, many companies plan to hire new staff in the AI ​​sector. Switzerland is lacking specialized personnel: the boomer generation is retiring, and there are not enough experts to fill this gap.

You've said that one of the reasons for Switzerland's high level of competitiveness is its dual education system. Why is it necessary to defend it?
The dual education system contributes significantly to Switzerland's economic success, but it is also subject to social change. One reason for this is the high influx of migrants from, for example, Germany or France, where a high school diploma is considered more important than an apprenticeship. In many countries, a bachelor's degree is considered a better option, and the permeability of the Swiss education system is not universally recognized. But ultimately, work must not only be thought about, but also done. In my opinion, an apprenticeship is at least as valuable as a bachelor's degree. Those who pursue a dual education system have a later advantage as entrepreneurs: these people know their industry inside out.

What role do universities play in Switzerland as research centers and workplaces?
"Industry clusters are constantly emerging within leading universities, transforming research into development. This is how biotopes for ideas and innovation emerge: consider the famous Silicon Valley that centers around Stanford University in Palo Alto, California. Clusters of this kind can also be found in Switzerland. At EPFL in Lausanne, for example, a 'Trust Valley' has been created, boasting world-leading expertise in digital security and cybersecurity. Another example is the Bio-Technopark in Schlieren, a life sciences cluster with numerous spin-off companies from ETH Zurich."

In which sectors is there currently the greatest “focus on innovation”?
Switzerland is driving innovative developments in all areas, from brain research to space travel. In French-speaking Switzerland, for example, research is being conducted on sensors that help paralyzed people move their muscles, while in German-speaking Switzerland, these devices are being built. And the University of Zurich has established the 'Space Hub,' where luminaries from around the world are researching medical applications for the aerospace sector.

In recent decades, industry has outsourced many jobs abroad for cost reasons. Is this trend likely to continue?
From a company's perspective, outsourcing makes sense when wage costs represent a significant percentage of production costs, i.e., in mass production. For high-value-added products and services, wage costs represent a smaller share of overall costs. Industries with a high research commitment in particular require experts with specialized knowledge who can drive innovation, build prototypes, and make them suitable for series production. Some industries are even relocating to Switzerland, for example from Taiwan and China, so as not to be suddenly cut off from key technologies in the event of a crisis. A shift in mentality is underway: Switzerland wants to preserve its expertise.

And what is the situation with state subsidies to industrial branches?
Subsidies are an intervention in the market economy. They delay structural change and are not a sustainable model. Take Germany, where wind energy receives significant subsidies. If subsidies disappear, as has already happened with electric mobility, there is no longer any economic benefit. If a business model relies on subsidies, it will not survive in the long term. The situation is different with basic research: it depends on government funding to thrive. And this is extremely important because research is the foundation of prosperity and international competitiveness.

Coming to the banking institution you represent, what is Raiffeisen's role for Switzerland as a research center and workplace?
Raiffeisen is Switzerland's second-largest banking group, maintaining relationships with one in three Swiss companies. We have already granted over 50 billion francs in loans and intend to continue growing. Raiffeisen offers a wide range of services, from lending to foreign exchange transactions to leasing financing. We are one of the largest carriers of foreign exchange and precious metals and one of the world's top five providers of banknote trading services.

What is the reason for Raiffeisen's success?
With around 750 locations, we are present throughout Switzerland. Especially in rural areas, Raiffeisen is still perceived as extremely personal. This is linked to our roots: Raiffeisen originated from an agricultural cooperative, and today we are still perceived as down-to-earth, modest, and reliable—in other words, 'typically Swiss.' At the same time, we are also a strong player in complex services such as foreign exchange transactions. We offer our clients attractive terms and pragmatic solutions across all areas, without 'selecting' specific services. These virtues are perceived as very positive by Swiss companies.

Raiffeisen organizes an annual event to bring together stakeholders from business, politics, and education. What are the reasons behind this choice?
Most networking events take place within a single industry. We want to connect companies from other sectors and offer them a platform to find new collaborations and think outside the box. Innovation often happens 'out of the box,' and that's what we want to promote with our event.

A chat with Philippe Obrist about artificial intelligence

Here are three insights that might interest you:

It is an innovative push to direct the future of the PKB bank
Tenet, the digital bank that revolutionizes global finance
Wells Fargo Launches Innovation Center for Bank of the Future