Ren Zhengfei, founder and CEO of Huawei Technologies Co, said the young generation should have no complaints and regrets as starting a business is never easy for anyone.

Ren said artificial intelligence is an irresistible trend across the globe, and the development of chips, computing power and other technologies has bolstered the arrival of an intelligent era while emphasizing the turning point of this era is the application of AI.

Ren made the remarks during a meeting with the chairman, coaches and champions of the International Collegiate Programming Contest or ICPC, a premiere global programming competition conducted by and for the global universities, in October.

Ren said if young people want to start a business, they have to pursue their dreams without any complaints or regrets even if they become beggars, adding that people will start a business only when there is no way out for them.

He added his company is still struggling as 99 percent of Chinese companies can cooperate with their counterparts in the United States, as they are not sanctioned. "The computing power of their chips is higher than ours, and they can buy better things than we can. Under such conditions, will we be able to survive the next few years?"