The Wideband Sensitivity Upgrade (WSU) is the top priority initiative for the ALMA2030 Development Roadmap. The WSU will initially double, and eventually quadruple, ALMA's system bandwidth and will deliver improved sensitivity by upgrading the receivers, digital electronics, and correlator. The WSU will afford significant improvements for every future ALMA observation, whether it is focused on continuum or spectral line science. The continuum imaging speed will increase by at least a factor of 3 for the 2× bandwidth upgrade (and at least a factor of 6 for the 4× upgrade), plus any speed gains from improved receiver temperatures. The (single) spectral line imaging speed is expected to improve by a factor of 2-3 depending on the receiver band. The improvements provided by the WSU will be most dramatic for high spectral resolution observations, where the instantaneous bandwidth correlated at ∼ 0.1-0.2 km s −1 resolution will increase by 1-2 orders of magnitude in most receiver bands, with the largest gains at the lowest frequencies. The improved sensitivity and spectral tuning grasp will open new avenues of exploration, increase sample sizes, and enable more efficient observations. The impact will span the vast array of astronomical topics that embodies ALMA's motto In Search of our Cosmic Origins. The WSU will greatly expand the chemical inventory of protoplanetary disks that surround young stars, which will have profound implications for how and when planets form in disks and their composition. Observations of the interstellar medium in the Milky Way and nearby galaxies will simultaneously measure a variety of molecular species that will be used to build large samples of clouds, cores, and protostars in a variety of evolutionary states. The WSU will also enable efficient surveys of galaxies at high redshift to probe the origins of galaxies. The first elements of the WSU are now under development and will be available to the user community later this decade, including a wideband Band 2 receiver, a wideband upgrade to Band 6, new digitizers and digital transmission system, and soon a new correlator. Upgrades to other instruments and receiver bands are under study, including the newly developed ACA spectrometer and 2SB upgrades of Band 9 and 10 receivers for better rejection of atmospheric noise. The substantial gains in the observing efficiency enabled by the WSU will maximize the synergies between ALMA and facilities across the electromagnetic spectrum, and further enhance ALMA as the world leading facility for millimeter/submillimeter astronomy.