Artificial Intelligence (AI) is a fascinating and rapidly evolving field that blends science, technology, and imagination to create intelligent machines capable of performing tasks that traditionally require human intelligence. From humble beginnings in the realms of science fiction to commonplace utilization in modern technology, AI’s journey has been groundbreaking and transformative.

From the dawn of machine age to digital revolution, the aspiration to develop an artificial system emulating human intelligence has been a constant. Early AI systems were underpinned by predefined rules and logic, able to execute tasks but incapable of learning from experience. In the mid-20th century, AI began to mature as scientists, technologists, and mathematicians invested their intellect into designing machines with cognitive ability.

The evolution of AI snowballed after the development of machine learning, an approach that allows machines to learn and adapt from experience. The advent of this technology in the latter half of the century marked a paradigm shift, moving AI away from rigid rule-based systems towards more flexible, adaptable ones.

Later, the emergence of Deep Learning, a subset of machine learning further pushed AI towards human-like intelligence. Deep learning algorithms mimic the neural networks of a human brain, facilitating pattern recognition, language processing, and complex decision-making abilities.

In the 21st century, AI has become omnipresent in our lives. Siri, Amazon’s Echo, or Google Assistant are prominent examples of modern-day AI sophistication. AI facilitates online shopping recommendations, online customer support, social network monitoring, and personalize web-services.

The impact of AI’s evolution on society is monumental. One visible effect is the transformation of multiple industries. For instance, in healthcare, AI algorithms detect anomalies in medical images, help in drug discovery, and predict patient outcomes. In finance, stock markets leverage AI for high-frequency trading and fraud detection.

Simultaneously, in transportation, AI-powered self-driving cars are reducing human error on roads, while in the retail sector, AI is curating personalized shopping experiences and optimizing inventory management. Moreover, courts are testing AI tools for risk assessment, and journalists are using AI to write news reports.

As AI continues to advance, ethical and practical issues arise. The conversation around job displacement due to automation is one such pertinent issue society must grapple with. Also, decisions driven by algorithmic interpretation can sometimes turn biased, raising questions on AI’s transparency and accountability.

Yet, our focus should not just be on the dilemmas. As we navigate the AI era, there is a universe of untapped potential to explore. AI should be seen as a tool not to replace human minds, but to augment them. It can help humans to solve complex problems more effectively, and bring about a societal shift towards more data-driven decision making.

In summary, AI’s evolution has been a phenomenal journey, demonstrating both its enhancements and complexity. Its ripple effect on society is palpable, revolutionizing industries, and challenging traditional paradigms. As we stand on the brink of the AI frontier, one thing is evident – the story of AI’s evolution is still being written, and its full impact remains to be seen. It is an exciting space where potential benefits are immense, but the need for cautious implementation is equally important. As the explorers of this frontier, the choices we make today will shape an AI-driven world of tomorrow.