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Innovation Elixir: What our kitchens, bathrooms and bedrooms may look like in a decade

We know that technology is changing everything around us, but do you wonder what that might look like in reality in your kitchen, bathroom and bedroom a decade from now?

General Electric Co. invited me in for a glimpse of what its innovators think our homes might look like in the future in a project called “Home 2025.”

It’s not the first time GE has done this. In 1960, Arthur BecVar, GE’s manager of industrial design for major appliances, and his team of designers imagined a kitchen of the future. Today, many of his ideas, such as an induction cooking surface and refrigerator ice dispenser, have become a reality in many kitchens.

I knew we were going to talk a lot about kitchen appliances when I visited GE, so I brought with me Chris Seiple, an executive chef in Minneapolis. I wanted Chris to give his professional opinion as a practitioner on what would have real application — and what was just chatter. Neither of us were disappointed in the ensuing discussion.


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Personas: The key to consumer intimacy

Chris and I took away two main things from this conversation. First, GE’s approach to innovation was excellent. They formed teams that created “personas” of what appliances they felt consumers would be looking for in their homes by 2025. 

For young adults, they considered combined multiple appliances to save footprint size and add convenience, (like compaction for space constraints – see their “pelletized clothing storage” ideas). In contrast, for an aging population they projected medical alerts and health monitoring systems and apps built directly into appliance handles and doors.

Another one of our favorites was an induction countertop that only heated up where you set a pot down. It weighed and measured ingredients automatically. It even allowed you to use your finger on the surface to pull up recipes, techniques, or video chat with Grandma to understand how she created that favorite childhood dish!

In addition to young adults and seniors, GE came up with multiple personas of customers and what their needs would be. They did an exercise in trying to predict and model customer desire and needs and how they could solve them. I give GE huge kudos for this approach versus a more typical approach of “we have a cool technology or product – how do we sell it?” I think more companies would learn from being this customer-intimate.  Click here to see their other innovative ideas

GE innovation: Another competitive edge

Our second takeaway was that GE is a serious player in this market. From CES in Vegas, there was lots of bravado about other companies stepping into the appliance market,  specifically related to the “Internet of Things” concept. I think that is great, because competition always makes for a better marketplace. But these other guys better be ready because GE is in this space to win. Rather than incremental-type innovation around appliances, GE is looking at distinctive and breakthrough advances.

The everyday refrigerator hasn’t changed in 100 years, but GE is on the verge of a breakthrough technology and solution what would recast what a refrigerator is — or at least the space and operation of it as we know it. It is their magnetocaloric refrigeration unit. The breakthrough system, which is projected to be 20 percent more efficient than current refrigeration technology, could be inside your fridge by the end of the decade. The system is using a water-based fluid flowing through a series of magnets to transfer heat, rather than a chemical refrigerant and a compressor. This significantly lowers any harm to the environment and makes the recycling of old refrigerators simpler.

Overall, it’s pretty fascinating stuff, and GE is using great innovation principles by being consumer-centric and actually designing with the customer in mind rather than simply what they think they can bring to market.

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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