Inter jumped to a 2-0 lead before they collapsed after halftime to lose 3-2 in Riyadh on Monday night.
A delighted Conceicao said afterwards: “I am very happy for the players, because it was not easy. The atmosphere wasn’t the best when I arrived, there wasn’t much time to work on the details before these two games and we were up against two top level sides.
“The players were magical, they absorbed everything we discussed and clearly there are things we need to improve, but they are aware of that. I feel that with humility, we can have some great months together in the Champions League, Serie A and to take Milan where it deserves to be.
“Now we are happy, we celebrate and from tomorrow we will begin to focus on Cagliari.”
He also said: “There were a few things we had to adjust both when defending and attacking, but it was a heavy blow to concede on a throw-in and then let in another goal straight after the restart when not reading the long ball.
“However, this means the team has character, because it managed twice to turn games around and beat big sides. A coach has to make adjustments during the course of a game, that is what they pay me for.”
Conceicao also said of Rafael Leao: “Leao is phenomenal. I’ve known him for a long time, he is Portuguese like me, but he is more relaxed Portuguese and I am more tense.
“He needs to learn a few things and then I believe he can become the best player in the world. I’ve told him this too, he has so much individual quality and if he puts it to the service of the team, he can be even better.
“I have no doubts, he can become the best in the world next season if he learns those things.”