According to MacRumors, Apple's new system called AirTags is currently under works to help users locate their missing items. The device will be similar to Tile devices and users can attach it to the objects they misplace.
Rumors about AirTags have been circulating since earlier this year but MacRumors recently found a few screenshots for AirTags on an iPhone, which show how the system would work.
Users can place these devices on their missing items like bags, keys, wallet, etc. For these devices to work, users will require the "Find My" app on iOS. The screenshots on MacRumors show an updated tab on the app with a new "Items" option from where users can track the location of their lost possessions.
AirTags can be connected to iPhones, iPads or Mac Books with Bluetooth or Apple's latest U1 chip which would offer more accuracy to locate objects indoors.
The system might also have an augmented reality component that would be able to use the device's camera to indicate exactly where the object is at. Other features of the system might also include long-range tracking and offline crowd-sourced tracking- a feature in the iOS 13.
It is unclear when Apple would launch AirTags but users can expect it to be released by the end of this year.