Apple and Google have jointly submitted a proposal for an industry specification for tracking devices, such as Apple’s Airtag. As the devices use public networks to be tracked, there is a risk of unwanted actors also tracking the bluetooth devices. The idea is for users to be able to receive warning messages when unauthorized tracking occurs.
The specification is still only a proposal, which you can read here, and other companies and organizations will be able to provide their comments on it over the next three months. After that, Apple and Google will process the specification according to the comments, and then work to implement it in both Ios and Android before the end of the year.