Arsenal have been relatively quiet in the market compared to big-spending rivals Tottenham Hotspur, Manchester City and Chelsea, but the north London side have been linked with moves for Newcastle United midfielder Bruno Guimaraes and Real Madrid winger Vinicius Jr.
While Arteta would not be drawn on Arsenal's reported pursuit of the pair, he told reporters on Saturday that the club were determined to "improve and evolve" the squad.
"We expect to have movements in the next few weeks, obviously," the Spaniard added, speaking after a 4-1 pre-season win over Girona.
"We want to get better like anybody else, and you just can see the transfer market and our opponents, what we are doing. We won't sit still and we are very ambitious with what we are doing.
"The margins are very small. Because we want to get better and the level is going to increase. We need to increase the competition internally. We need to make sure we identify the things that we don't have in the team."
Arsenal have so far signed goalkeeper Illan Meslier and forward Christos Tzolis, while defender Piero Hincapie has joined permanently after spending the last season at the Emirates on loan.
They begin the defence of their Premier League title at home against promoted Coventry City on August 21.
