I imagine this will be really helpful when it becomes a consumer standard. Lost your keys? Search for the using the app o your phone. Lost a shoe?Search for it. Of course, as with everything there is a downside, and for this it's that the NSA will probably have access to every nearable for your "safety".
Long before that, it will help reduce staffing costs at big retail stores. Lost in the store? Pull out your phone and get directions to any product on the floor or to the exit, checkout, restrooms, etc.