It would be the same 4G surface currently used by Aviva Premiership leaders Saracens at Allianz Park.
"We have met with companies who could install it, and we are now looking at ways of potentially financing it," Blues chief executive Richard Holland told the South Wales Echo.
"It would be amazing for the Blues, for Cardiff RFC and potentially for the wider community as well because it would be available to use 365 days of the year.
"We could also hold non-rugby events on it.
"So yes, meetings are taking place, and yes, we have a desire to do this.
"Will it happen? I can't say for sure at the moment because it depends on the finance.
"But the way the Arms Park pitch is in the winter months, well, we are aware of the quality of the spectacle for our paying public who don't want to see 30 blokes rolling around in the mud."
The Blues were Saracens' first opponents on the Allianz Park artificial pitch in January when the teams contested an LV= Cup pool game.
Holland added: "We played on Saracens' pitch earlier this season and were hugely impressed. I would like to see this happen sooner rather than later."
- Sports & Recreation