Today, attention is focused on three main areas of university activity, which are called "missions". These areas include educational and research functions, as well as the transfer of innovations. The third mission of the university means its social responsibility to local communities, participation in the cultural and economic development of the state. The introduction of digital technologies and the processes of globalization have a significant impact on the fields of activity of universities, presenting both challenges and new opportunities for their development. The purpose of this article is to consider the scientific discussion about the third mission of the university, as well as to identify opportunities and limitations in its implementation. The increased use of digital technologies and globalization are leading to changes in higher education, affecting all three levels of university activity. In this work, general scientific approaches to the study of social institutions are applied, in particular, the method of comparative analysis was applied. A review of the literature on the topic is presented, the importance of involving different stakeholders in university education is revealed. Universities are facing new challenges, but there are also prospects for changing the educational process. At the turn of the century, universities were experiencing crisis and decline, and pressure was exerted on them to shift the focus of their activities from the main missions to the third mission, expressed in the wording "responsibility to local communities". Research in this field is often devoted to the traditional tasks facing the university, or they consider the third mission in a narrow sense. However, it is important to identify both the positive consequences and the contradictions that higher education faces at the stage of the emergence of new functions. The university community is also offered a number of measures that could be used to solve the problems that arise.
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