Cowell has returned to Britain's Got Talent in 2012 after confessing that last year's series with Michael McIntyre and David Hasselhoff on the panel "wasn't a great year".
The Syco boss will be joined by David Walliams, Amanda Holden and Alesha Dixon for the audition shows around the UK, but confessed that he did have concerns about the arrival of the rival musical talent show on the BBC.
Watch Simon Cowell and the Britain's Got Talent stars talking to Digital Spy below:
"I recognise [The Voice] as a challenge. The BBC must be confident because they have put it up against this show," Cowell told Digital Spy.
"They want to make a competition out of it. So we've got to make [Britain's Got Talent] better. Everyone benefits because of that."
The Voice UK, which features Tom Jones, will.i.am and Jessie J as mentors, will air on BBC One on Saturday nights from March.
Britain's Got Talent's auditions will take place around the UK throughout January and February. The new-look judging panel - Cowell, Walliams, Holden and Dixon - will appear together on ITV1 for the first time in the spring.
> Simon Cowell: 'Alesha Dixon Britain's Got Talent signing was BBC dig'
> Simon Cowell: 'I was too smug and cocky last year'
Scroll through the gallery from the 2012 Britain's Got Talent red carpet launch below: