The former Australia captain spoke in Sydney ahead of a Sheffield Shield appearance for New South Wales next Tuesday away to Queensland in Brisbane, who are likely to be captained by his good friend and in-form batter Marnus Labuschagne.
Smith is now expected to lead the Aussies for the first Ashes Test against England in Perth on November 21 as regular captain Pat Cummins continues to recover from a significant back injury.
Cummins is yet to return to bowling in any manner and Australia coach Andrew McDonald recently revealed that Cummins will need at least "four weeks of bowling" to regain full fitness.
"We'll see what happens," Smith said of his likelihood of wearing the green blazer at Optus Stadium in exactly one months' time.
"Pat still has a few things to tick off, but you never know. He's a healer and he gets well quickly.
"Things can turn around pretty quickly. He's got a few things to tick off but he's in good spirits."
Smith's captaincy experience and Cummins' consultative approach means that Smith has remained an informal deputy since Cummins assumed the captaincy in 2021, and the first Test in Perth would be the seventh time during Cummins' tenure that Smith has stepped in to lead the Test side on a temporary basis.
"It's nothing out of the ordinary," Smith said.
"I know how the team operates and we're in a good place. If it happens I'll be looking forward to it.
"The important thing is doing it my way when we get out on the field. I have a style and I need to be authentic. It has worked well whenever I've stood in over the last few years and it'll be a seamless transition if it comes around."
Smith's only competitive cricket since the July tour of the Caribbean was an underwhelming Hundred campaign for the Welsh Fire in August, but the 119-gamer says he's in good shape after spending most of the Australian winter at his New York City base.
"I feel like I'm batting well, even though I've only faced the side-arm so far. I feel like I'm moving nicely and am in a really good place."
The 36-year-old scored twin centuries when leading the two-Test tour of Sri Lanka in Cummins' absence early this year and now averages an astonishing 68.98 in his 40 games as a Test captain compared with 49.90 in the other 79, and could not explain to reporters the reason for his superior performances as a captain.
"It's hard to say," Smith answered. "I'm not entirely sure."
"It's interesting how the brain works. My record as captain I think is better than when I'm not.
"I feel like I kind of go to another level and try to set a standard, I suppose, but that's as far as I can go with it."
Smith was coy about whether Marnus Labuschagne would return to the Test side as an opener or a number three but didn't hide his pride in the resurgence of his close friend, whilst joking that Labuschagne has "a quiet week" against New South Wales next week.
"I sent him a message a few days ago saying how proud I was of him," Smith revealed.
"His four hundreds from five hits is a pretty big statement. He said to me at the start of the summer that he'll be in the first Test and he has probably backed up his words by doing a lot of things right.
"He can open, he can bat three. We'll see where it all stands when the team is picked."
"He knew he wasn't batting as well as he had been and had gone off a little bit. My advice to him was to stop thinking so technically and just go and play the game and just react.
"I think he has been doing that really beautifully and has played nicely."
New South Wales will take on Queensland at The Gabba next Thursday.
Nathan Lyon could also feature for the Blues, who will likely be without Josh Hazlewood and Mitchell Starc as they target a November 10 game at home to Victoria.