The authors analyzed various approaches to the disclosure of the concept of "digital transformation", presented the author's vision. The process of digital transformation is divided into three stages, depending on the dominant digital technology. The authors proved that each stage of digital transformation is associated with a certain set of social risks. It is proved that at the stage of spreading the Internet, there are risks of developing information, knowledge inequality and inequality in opportunities. The stage of intensive digital consumption provokes the risk of degradation of human relations, along with an increase in human vulnerability in front of digital environment. The stage of development of automation and robotization leads to the emergence of socio-economic risks due to the deepening of negative aspects of the psycho-emotional picture of human existence.