Some of the features on the AirTag have been around on different devices for a long time. Things like activating a sound, blinking a light or showing the name and phone number of the owner. They are usually not killer features of things so they are not included unless it just involves a small software update. If AirTag proves to be a success then it might be something that can be integrated into more things quite easily at just a small increase in hardware cost.
One of the innovations we have not seen that often before is the way the phone can locate the AirTag. This can not be done with Bluetooth though and requires modified Bluetooth tranceivers that is capable of switching from Bluetooth mode into a wideband locator signal. This is an old technology which have been used for a long time in purpuse build locator devices however they have not been built into a Bluetooth transceiver before. But it is something which might become more common over time as we see new hardware being developed for it.
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