NVIDIA® GPUs and CUDA programming language has remained the standard in HPC and AI workloads forming a closed ecosystem. The arrival of diverse classes of accelerators have opened new opportunities for innovation across multiple industries. We introduce oneAPI, an open, cross-industry, standards-based, unified, multiarchitecture, multi-vendor programming model. oneAPI uses SYCL, an openly spec’d alternative to CUDA that supports many classes of accelerators like CPUs, GPUs, and FPGAs without vendor lock-in. In this talk, we demonstrate how switching to SYCL and oneAPI using the Intel® oneAPI DPC++/C++ Compiler with the NVIDIA® plugin can deliver performance parity between SYCL and CUDA on NVIDIA® GPUs. Through a careful selection of representative algorithms widely used in bioinformatics, image processing, finances, machine learning and physics, it is shown that SYCL can provide comparable performance with respect to native CUDA.