Artificial intelligence will create greater value for society and boost efficiency, and though its increasing use will pose challenges for employment, society can solve such issues, said Ren Zhengfei, founder and CEO of Huawei, on Thursday.

"It demands talents, computing power, sound infrastructure and other factors to fully tap the potential of AI," Ren said in conversation with two AI experts in Shenzhen, Guangdong province.

AI also offers an opportunity for small countries to achieve rapid development, said Ren. But whether a nation can provide sound infrastructure will impact whether it can turn AI into a driver for growth, he added.

"AI will be the biggest industry in future，and we don’t want to be put on a trade blacklist in the development of AI for the second time. We want to work together with others to create value for society," Ren said.

According to the senior executive, such a possibility is less likely, because AI is mostly software based.

Ren also said that Huawei is willing to license its 5G patents to US companies to develop its own products. These companies not only compete with Huawei in the US but all over the world.