The purpose of the research is to reveal the phenomenon of “digital crisis” in the context of the development of the digital economy, to identify its impact and consequences for the innovative activity of the enterprise. Commitment to the development of the digital economy suggests that the gathering and processing of the increasing volume of digital data will increase the effectiveness of various types of economic activities. However, throughout the scientific and technological progress, the amount of accumulated information has increased at a pace ahead of the intellectual and computational capabilities of the society to process them. Statistical studies show the accumulated contradiction between the growing level of digitalization of Russian society and the stagnation of innovative activity of Russian enterprises.Materials and methods of research include the study of the ITindustry as a provider of resources for the development of innovations in the digital society. The analytical reports of consulting ITcompanies (IDC, McKinsey), the results of studies of the accumulated experience of its implementation in the activities of enterprises, the official statistics made up the factual basis of the research. The methodological basis of the study includes approaches to assessing the effectiveness of access to digital data, assessing the effectiveness of their use for solving economic problems.The results of research show the presence of the digital crisis, which is expressed in the inability of the IT-infrastructure to provide enterprises with effective access to digital data in the course of their innovation. At the same time, the volume of digital data is growing exponentially with the spread of the Internet of things and the increasing frequency of citizens’ interactions with digital services and platforms. The digital crisis makes it impossible for enterprises to extract knowledge from the data stream to develop innovation.Conclusion. While Russian enterprises are experiencing the impact of the digital crisis, which makes it difficult to develop innovations using a combination of IT and digital data, the Russian and global market is filled with foreign digital goods and services. The achievements of digitalization of Russian society become the basis for the development and dissemination of foreign innovations. Overcoming the digital crisis depends on factors either the external and internal environment of enterprises. The competence of the enterprise itself is the improvement of its organizational structure, business model and human resources. The external environment should create favorable conditions for enterprises’ access to innovation resources.