Champions City head to the Emirates Stadium this weekend looking for a swift response to a shock 1-0 home reverse to Stoke City before the international break.
Dzeko is well aware of the threat that Arsene Wenger's men possess, but the Bosnia-Herzegovina striker thinks City can claim three points in north London.
"It will be difficult, but I'm an optimist," Dzeko told City's official website.
"As with every season, there are several teams that will battle for the title of champions in England.
"This season Chelsea might be the most serious challenger, but we mustn't ignore Liverpool, Tottenham, Arsenal, or [Manchester] United, who will certainly be much stronger than last year.
"After all, everyone has gotten stronger, and everyone wants to be first."
The 28-year-old penned a new four-year deal at the Etihad Stadium last month and stated that he had no hesitation in putting pen to paper after winning the Premier League and League Cup last season.
"The past season was one of the best in my career, and in the end we reached the title of champions of England, the second in the past three seasons," he added.
"We succeeded in winning the Capital One Cup and I am really happy how everything played out in the past season, both for the club and for myself.
"As far as the contract, in general I had no dilemma around an extension.
"I am happy at City, the manager believes in me, which is certainly important, and I give my all on the pitch and altogether it means quite a lot to me, because Manchester is a club with great ambitions and I easily decided to stay put."
