Arsenal have been linked with Norwich City attacking midfielder Buendia and with Brighton and Hove Albion midfielder Bissouma.
Former Arsenal star Smith, who now works as a pundit for Sky Sports, has asked whether the two players can step up, suggesting that signing them would be a gamble.
Smith wrote on SkySports.com: “It’s always the right thing to bring in new players but only if you can get the right players. Somebody who is going to suit what you are looking for, and importantly, who is good enough and who is the right character as well. Sometimes that is the hard part in judging whether they are right for the club.
“Can they handle a step up? For example, somebody like Emi Buendia at Norwich or Yves Bissouma at Brighton, can they handle the step up in expectation at a bigger club? Some people can, some can’t, but you can never be certain until a player arrives.”
Buendia has played in the Premier League with Norwich before, while Bissouma is playing in the top flight of English football with Brighton at the moment.
Both are 24 and are at the right age to make the step up to Arsenal, who are a bigger club than Norwich and Brighton.
Of course, any signing is a gamble, but if Arsenal can secure the services of Buendia or Bissouma for a decent transfer fee, either in the January transfer window or in the summer of 2021, then they should go for it.