The article studies the problem of changes in the cognitive sphere of children and adolescents of the digital generation – “generation Z” – in the context of influence of socio-cultural processes and digital technologies on the human psyche. We analyse data and models of changes in perception, thinking, memory and attention in the process of transformation of the socio-cultural situation. Arguments are given in favor of the standpoint emphasizing the ambiguous nature of the influence of digital technologies on the cognitive development of a modern person.