NYU partnership on artificial intelligence

NYU is making a bold step in developing artificial intelligence. A new partnership is aimed at recruiting the best and brightest.

Michelle Bacharach is co-founder of Findmine, a tech startup helping customers shop online by using a set of algorithms, or artificial intelligence. Her team of 3 operates inside NYU Tandon's Data Future Lab where companies from around the world are perfecting advances in AI.

Now NYU is launching a first of its kind partnership, teaming with a private venture capital firm to find the next big thing in artificial intelligence.

Ryan Armburst is managing director of FF Venture Capital. He says the firm will be investing $100,000 in 5 different companies using technical and mentor support from the NYU staff. Combined they're hoping to take a fledgling company's idea and turn it into a business that could potentially bring the next shift to the emerging tech field.

They launched this week and already have 11 applicants.