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https://www.heise.de/tests/Auf-den-Hund-gekommen-Apple-AirTags-im-Praxistest-6025619.html
This is in German but if I understand it correctly it will notify you when you arrive at your home address, or at the end of the day and starts making sounds after 3 days. So your best bet is a thief with an Android phone.
Most iPhone users are signed up to "Find My iPhone" which I think (haven't read the small print) opts you in to helping track other people's Apple devices.
Apple haven't made it clear how long after it's stolen it will start doing that. Could be minutes, could be days.