His involvement is likely to be part of a substantial rehaul of the event under new chairman Michael Osborne.
Osborne said from Dubai Saturday that he is keen to change the points system for the series, giving certain races more points than others.
The series for handicap horses has so far failed to get much public or media recognition, but features the Breeders' Cup Classic (gr. I) and Turf (gr. IT), which this year will be held at Belmont Park in New York.
Smith made his first visit to Dubai this week and Osborne said: "He's a very, very smart guy, has a lot of energy. There is a lot of goodwill towards him around the world."
The series has been sponsorless since Emirates pulled out, but Osborne said finding an overall backer was not a priority.
"Each racecourse around the world will do its own thing and a coordinating committee will help each course with whatever information it needs," Osborne said. "But it is very early days."