The digital transformation of production processes and business models, going hand in hand with the selection of appropriate technologies, can provide long-term solutions to the alarming economic problems of our time. The article raises theoretical and empirical issues related to the current and future state of industry before, during and after digital transformation. Under the digital transformation of industry, the authors of article understand the process of integrating digital technologies into all aspects of industry, requiring fundamental changes in technology, culture, operations and principles of creating new products and services. The study examined the content, goals and objectives, principles, main directions, tools and stages of digital transformation of industry. The systemic problems of digital transformation are identified, on the basis of which a general digital transformation scheme and digital business model are proposed. In the process of digital transformation, a special role is assigned to the head of digital transformation (CDTO. The presented developments will make it possible to comprehensively transform the industry on the basis of transition to new business models, communication channels with customers and suppliers, products, business and production processes, and corporate culture, which are based on fundamentally new approaches to data management using digital technologies, with the aim of significant increase of industrial efficiency and long-term sustainability.