To solve the general problem, sure, but the tool I'm looking for is usually one I was just using and mindlessly set down somewhere I shouldn't have. If the VR headset could recognize tools and remember where in the shop I set them down, it could do the trick just fine. That's how I usually find them, after all. When that fails me, my fallback plan is to start cleaning, which turns up what I'm looking for in pretty short order.
That's not something AR headsets do.
That is a arbitrary object detection problem, which is in general harder to solve than just using an ips.