The Gunners have finished second to City in the past two league campaigns, and were just two points behind Pep Guardiola’s side last season.
On the evening after the final match of last season against Everton, Arteta and Arsenal held a gathering in central London that was attended by owner and co-chairman Josh Kroenke, players with their families and club staff.
“All the players were saying to me, ‘we’re going to be better, we’re going to do it, we want more,'” said Arteta.
“They are the ones driving that ambition, so that’s always positive.”
Arsenal face Wolves at Emirates Stadium in their first match of the season on Saturday, and Arteta says his side are relishing the start of their title bid.
“We are really excited,” he said. “We’ve been missing the competition for many weeks, too long for us.
“We’re so willing to start, really enthusiastic about it.
“We had a really challenging pre-season. The team has looked really sharp, really at it and desperate to play.”
No teams in the Premier League have been able to improve their points tally in five consecutive seasons, but that may be what Arsenal need to achieve to become champions for the first time since 2004.
The season-by-season improvement so far means Arsenal have gone from totting up just 56 points in 2019-20 to posting 89 points last season.
Former England captain Alan Shearer gave his thoughts about Arsenal’s title prospects in his BBC Sport column, where he said that “the one thing they are missing… is a goalscorer”.
Shearer explained: “If Arsenal sign a top striker then I would back them to go on and win the league.”
Arteta sees his team as a long way from the finished article, and efforts are ongoing to strengthen the squad as the manager backs the group to grow stronger.
“We’re still very far from perfection,” said Arteta.
“This team still has levels to reach and they give me the reasons to believe that because I see the way they train and the way they play every day.
“I believe there is still big room to improve.”