Alibaba Group Holding on Monday established a new unit called Token Foundry, consolidating key model-development teams as the Chinese technology giant steps up efforts to commercialise artificial intelligence and align its businesses around a unified AI strategy. The new division brings together Alibaba’s Tongyi Lab and Future Life Lab and will be led directly by CEO Eddie Wu Yongming, according to people familiar with the matter. Future Life Lab, previously housed within Taobao and Tmall Group,...