Milan's defeat to Atalanta on Sunday leaves them sitting in ninth place on the Serie A table.
Braida, who left Milan for Barcelona before eventually taking charge of Cremonese, where he left two years ago.
He said on Radio RAI: "I don't want to be a prophet because we all make mistakes, but I had predicted a season like this, not in line with the expectations and history of Milan.
"Unfortunately, all this has come true and I'm very sorry about this because I've always been a Milan fan. Let's hope that something happens, that someone understands that we need to find solutions, with competent people.
"Unfortunately, competence is lacking, there is a lack of this value."
New sporting director
On the ideal sporting director, Igli Tare, Fabio Paratici and Giovanni Sartori were put to Braida.
He continued: "They are certainly all very experienced elements. They are competent people, who have the value to be able to lift this Milan.
"In football you need talent: to do this activity, if you don't have talent, you can't do it or you don't do it well. Values exist and you have to find the solution".