Absolutely!I think it comes down to a couple of factors...
There is no question that the point and shoot can take better pictures. Features like the optical zoom, better lenses, bigger sensor, real flash, etc can all make for better images.
But there is also the convenience factor.
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For on-the-go impromptu shooting, you can't beat your phone - it's the camera you have with you all the time (unless you take your point and shoot everywhere you go).
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I guess I'm one of those backwards people... the phone spends 99% of it's time sitting in bowl in the study, and I carry a camera with me whenever I go out. I don't know I even know how to use the camera on my phone. But I live in rural area with spotty at best cell coverage, and we use the phone only on those occasions when we head into town. And remember to bring it. And have charged it.
To the OP - my apologies for being a bit snarky. Your question was ambiguous, and it really was the perfect starting point for a fair bit of humour. As miles01110 mentions above, knowing what kind of photos you wanted to take would have been good info.
A friend of mine just got back from NYC where he used his iPhone to take photos in various museums and galleries. You're not supposed to do this, so he pretended to be making phone calls while photographing. (Still got chased around several museums by security guards!)
In this case the phone camera is would seem to be clearly superior because using a point and shoot would be obvious to the guards. But in fact, many street photographers (see Doisneau as an example) were very good at shooting with the camera "on the hip". In the days before autofocus and autoexposure, yet.
Any way, good luck with your research. Keep in mind that there are several cameras that are not much bigger than a credit card, and therefore even more portable than an iPhone.