The myth of placing a wet smartphone in a bowl of rice supposedly "absorbs" the moisture, is ineffective and may even damage the device. Apple specifically states that you should not put a wet iPhone in a bag of rice.
Most advanced smartphones today come with IP67 or IP68 resistance. Apple recommends not letting the phone dive, and writes on its website that "the resistance to splashes, water and dust is not permanent, and it may weaken due to normal wear and tear"