BERLIN, Nov. 13 -- The German government plans to invest 3 billion euros (3.4 billion US dollars) in artificial intelligence, the German newspaper Handelsblatt reported on Tuesday.

According to Handelsblatt, this investment was part of a strategy for the development of the AI sector in Germany that the government intends to announce at a digital conference on Thursday.

The strategy includes measures to improve research, education and the development of business models in the AI sector. At least 100 new AI university professorships are sought to be created in addition to setting up competence centers and laboratories where new technologies can be tested.

According to the governmental strategy as seen by Handelsblatt on Tuesday, especially small and medium sized companies in Germany would currently not have any AI expertise.

In July, the German government presented its master plan for artificial intelligence. It contains key issues which should bring Germany to a "world leading level in terms of research, development and application of artificial intelligence."

German Economics Minister Peter Altmaier said during the presentation of the governmental masterplan "that artificial intelligence is not just another innovation - it is a basic innovation that will change and improve our economy and our lives as a whole."