Farrell formed Jane's Addiction in 1985, but the group engaged in intermittent periods of inactivity for more than two decades as members pursued side projects.
As work on the band's fourth studio LP The Great Escape Artist nears completion, he insisted that he is not satisfied to rely on nostalgia.
Farrell told Reuters: "I wanna be important to your past and your history. But I also wanna be part of this year and next year and the year after that."
He further explained that a key to attracting new fans and staying relevant in today's stratified music business is to implement state-of-the-art recording techniques.
"If you're using old equipment to write your music and play the music and perform your music, your music is gonna sound stale," he said. "You need to learn current equipment because it's vital to have a fresh sound."
Jane's Addiction's previous LP Strays reached the top five of the US album charts on its release in 2003.
Ahead of The Great Escape Artist's scheduled September release, Jane's Addiction are to headline this year's Lollapalooza festival alongside Eminem from August 5 to 7 at Chicago's Grant Park.
> Duff McKagan leaves Jane's Addiction
Watch Jane's Addiction perform 'Jane Says' below: