Cowell missed the early stages of the 2011 series to launch the US version of The X Factor, but chose to return for this year's run so he could "change the perception of the show".
"Even though they are both my shows, I would like to find a better winner on Britain's Got Talent than The X Factor," he commented. "To me it's a challenge. What I really, really passionately believe when I do these shows is that you have to find someone who can be known all over the world from appearing on the show.
"I came back because most importantly I want to change the perception of the show. I think there's a notion with the show that all we want is older people who can sing opera.
"I don't mind that, but at the same time, the whole notion of this show is to say it's open for people that can't just sing. It could be a new young comedian; it could be something we've seen on YouTube. I don't know what it is, but you want someone who can be a star all over the world...I want this show to be back in the world's spotlight."
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Asked what kind of acts he is hoping to uncover, Cowell mused: "I love originality, I love great singers, I love great comedians. I love things I've never seen before. Everyone thinks I hate magicians, well I hate bad magicians, but I'd love to find a great magician.
"I'd like to find the next NSync or the next Backstreet Boys, the next Justin Bieber. I've always dreamt about finding a dog who can play guitar. And we've failed. So I want talented dogs. I really want one that can dance or can play an instrument."
The Britain's Got Talent prize fund has been boosted to £500,000 this series, with half of the amount coming from Cowell's own pocket.
"Normally we have a £100,000 prize pool for the winner and you get to appear on the Royal Variety," the 52-year-old said. "I think this year I really felt that I've got to put my money where my mouth is and I'm personally putting up £250,000, so that's £500,000 cash to the winner, so that's a big incentive."
Cowell will be joined by new judges David Walliams and Alesha Dixon, as well as veteran panellist Amanda Holden, when Britain's Got Talent returns in the Spring.
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