Real-time location sharing may be a new Google Contacts feature coming to the app at some point in the future. A recent teardown of the APK for version number 2.3 of Contacts suggests that Google is looking to add the capability so that users will be able to share an address with their contacts, as well as add the ability to enable real-time updates so that contacts can instead check up on your location, making it easier for everyone involved to stay in the know as you travel.
Though Google may be adding this feature in an upcoming update, viewing shared locations may still end up being handled by Google Maps and may not actually be visible directly in the Google Contacts application. That said there could be a button in Contacts that will let you view shared locations which takes you to Maps, although it is just as possible that users will have to simply open Maps manually and view shared locations that way. In addition to the potential real-time location sharing feature coming, it looks like Google may also be adding another new feature at some point that will let Contacts offer to fix broken numbers for specific contacts.
For example, say a number in your contacts list isn't working for whatever reason. Perhaps it was disconnected or that person's number changed. In this type of a situation, it sounds as if Google Contacts will do its best to rectify the broken number. If the issue is that a number may have been entered incorrectly, or may have been messed up during a contact import, then Contacts could make the attempt to fix the number here too. However, it should be noted that there is not much detail exactly how this feature will work or when it will be added. Neither of these would be huge improvements to the app, and there's no telling how often they would be used, but it seems like they could be useful to some degree, and some users may actually find quite a bit of value in them. Since these are just strings of code referencing these features, more information about them may surface at a later date.