The system, developed by Ulm University in Germany, takes only a few seconds to tell the user exactly which drawer their wallet is in, or where they left their car keys. (Agencies)
The gadget, called FindMyStuff, allows a user to type the name of whatever they have lost into a Google-like page or app, a news agency reported.
Owing to a network of tiny sensors that have previously been placed on valuables, within furniture and around the home, the app will return an answer such as: "Your keys are behind the sofa cushions."
Florian Schaub, the creator of FindMyStuff, said that with sensors, transmitters and chips becoming ever smaller and cheaper, the world was already moving towards 'digital homes', places where almost everything we own can communicate with computers.
"Our system can be retrospectively fitted to be used on wallets and keychains. If you could get the tech smaller, you could use it on sunglasses and things like that.
"Phone manufacturers can integrate this technology into phones, and you easily make smart furniture by putting antennas inside," Schaub said.
The German team will unveil the FindMyStuff system next month.
Schaub said that they hoped to make the technology available commercially if electronics companies and furniture makers helped to build and market the product. The system will cost around 43 pounds.
The system, developed by Ulm University in Germany, takes only a few seconds to tell the user exactly which drawer their wallet is in, or where they left their car keys.