Purpose of research. The higher education system is undergoing changes under the influence of an increasing number of IT solutions used. Transformation changes take place at the organizational, technological, legal, and regulatory levels of management. Each of the directions affects the features of the functioning and development of the higher education system. In the process of their implementation, there are also deviations, risks that need to be, if not eliminated, then at least minimized. The article describes four main directions of development: technical, technological, instrumental, and educational. The types of risks associated with each of the described areas are also highlighted.Materials and methods. A set of methods was used in the paper: bibliographic (selection of articles by keywords); bibliometric (quantitative characteristics by time parameters); content analysis (method of studying the content of articles); evaluation of keyword queries using Internet services.Results. An analysis of queries by keywords showed that interest in the issues of digitalization and digital transformation of higher education arose later than in the system of general secondary education. There is a tendency to adapt successful models of digitalization of secondary education and business areas to the activities of the higher education system. Without considering the peculiarities of the functioning and development of the higher education system, we can get negative consequences expressed in different types of risks. The paper highlights financial, form-major, technological, operational, strategic, cognitive, and social risks.Conclusion. One of the key problems highlighted in the process of analyzing developments in the field of digital transformation of the education system is the consideration of digitalization as means, and not as a catalyst for systemic changes in all areas of activity. Point solutions will not allow you to fully realize the potential of digital solutions. When considering the problems of digitalization and digital transformation, higher education systems are often guided by successful models in the field of secondary general education and / or business environment, which can contribute to the formation of negative consequences when adapting approaches without considering their own specifics.
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