The issues of digital transformation of business in the current context are more pressing than ever. Most entrepreneurs and scientists have two views on the digital economy. In their eyes, it can be an impetus for further business development, but for many of us it is an incomprehensible value, and, therefore, a potential danger. Digital transformation carries many risks that need to be identified and dealt with. In response to contemporary challenges, it raises the question of creating new models of business management because “old” traditional methods have reached their limits in the digital world. A huge positive and explosive growth in cyberspace does not mean a more prosperous future for the global economy. They go hand in hand with the greatest risks and cyber threats that are growing as the digital economy expands. In addition, while studying the latest issues of digitalization in business, it is also necessary to consider the opportunities and advantages that arise when using new technologies in order to combat the COVID-19 pandemic. The development of advanced technologies, neural networks and convergent innovations will ultimately allow the global economy to overcome the economic crisis more painlessly, which has arisen due to the pandemic. This paper proposes the analysis of the essence of the digital economy, examines some of its aspects, and identifies possible risks that may carry the transformational processes of transition to the digital economy.