ABSTRACT In 2017, the free and open‐source software Open Systems Pharmacology (OSP) was launched. Since then, OSP has evolved from a small community into a diverse network of stakeholders committed to advancing open‐source solutions for model‐informed drug development (MIDD). In this context, the first OSP Community Conference was hosted by Novartis in Basel, Switzerland, on October 7–8, 2024, which gathered over 100 attendees from more than 40 institutions. This perspective synthesizes key insights from the conference.