GlobalSpace Technologies has announced the launch of PATGPT, a groundbreaking pharmaceutical-specific Large Language Model (LLM) platform, marking a significant milestone in the company's journey towards becoming a leader in AI-driven healthcare solutions.

Hybrid Training Model

PATGPT operates on an innovative hybrid model, with 50% of the training completed by GlobalSpace using pharmaceutical datasets. The remaining 50% will be trained using proprietary data from pharmaceutical companies within their secure cloud environments. This approach positions PATGPT as both a product and a customized LLM training service, allowing pharmaceutical companies to build organization-specific AI intelligence securely.

Initial Focus and Future Applications

In its initial phase, PATGPT will concentrate on optimizing four key areas:

1. Sales
2. Marketing
3. Inventory
4. Distribution

The company has outlined an ambitious roadmap for future applications, including:

• Research and Development (R&D)
• Clinical trials
• Pharmacovigilance
• Regulatory submissions

Strategic Importance

Tania Mazumdar, Executive Director of GlobalSpace Technologies, emphasized the strategic importance of this launch, stating, "The launch of PATGPT marks a significant milestone in GlobalSpace's journey towards becoming a leader in AI-driven healthcare solutions."

New Revenue Streams

The introduction of PATGPT is expected to create new revenue streams for GlobalSpace Technologies through:

1. Product licensing
2. AI training services

About GlobalSpace Technologies Ltd

GlobalSpace Technologies Ltd is a listed digital solutions company that focuses on the healthcare and pharmaceutical sectors. The company provides Software as a Service (SaaS) platforms and AI-powered solutions that enable pharmaceutical companies to:

• Digitize sales force operations
• Strengthen compliance
• Enhance engagement with healthcare professionals

Launch Details

According to the company's LODR filing:

GlobalSpace Technologies Ltd continues to combine deep domain expertise with cutting-edge technology, creating sustainable value for its clients and stakeholders in the pharmaceutical and healthcare sectors.

For more information about PATGPT and GlobalSpace Technologies Ltd, interested parties can visit the company's website at www.globalspace.in or contact them at Info@globalspace.in .

GlobalSpace Technologies Limited , a technology company, has announced significant developments in its leadership and financial performance. The company has made a key addition to its board and reported substantial growth in its annual revenue.

New Independent Director Appointed

GlobalSpace Technologies has strengthened its leadership team by appointing Ms. Lucky Bansal as an Additional Independent Director. Ms. Bansal's tenure is set for a period of five years, bringing fresh perspectives to the company's governance structure.

Impressive Financial Performance

The company has released its audited financial results for the quarter and year ended March 31, 2023, showcasing remarkable growth:

Note: All figures are in lakhs of Indian Rupees (₹)

GlobalSpace Technologies has demonstrated a stellar performance with its revenue surging by 111% to ₹1,926.85 lakhs, up from ₹911.05 lakhs in the previous fiscal year. The company's bottom line saw an even more dramatic improvement, with net profit after tax skyrocketing to ₹51.95 lakhs from ₹0.70 lakhs in the prior year.

Strategic Corporate Actions

The board of directors has approved several strategic moves:

1. Potential Rights Issue: A promoter's request to convert unsecured loans into equity shares through a proposed rights issue has been given the green light, subject to shareholder approval. This move could potentially strengthen the company's balance sheet and equity structure.

2. Stake Reduction: GlobalSpace Technologies has significantly reduced its stake in Makebot Robotic Solutions from 79.99% to 19.16%. This divestment may indicate a shift in the company's strategic focus or portfolio optimization efforts.

3. Revenue Adjustment: The company has reversed an export sales invoice amounting to ₹200.89 lakhs due to client deployment issues. This adjustment reflects the company's commitment to accurate financial reporting and addressing operational challenges.

These developments showcase GlobalSpace Technologies' dynamic approach to corporate governance, financial management, and strategic decision-making. The appointment of a new independent director, coupled with the impressive financial results, signals the company's focus on growth and enhanced corporate oversight. The stake reduction in Makebot Robotic Solutions and the revenue adjustment due to client issues highlight the complexities and challenges in the technology sector.