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This paper describes the design and optimization of a smart algorithm based on artificial intelligence to increase the accuracy of an ocean water current meter. The main purpose of water current meters is to obtain the fundamental frequency of the ocean waves and currents. The limiting factor in those underwater applications is power consumption and that is the reason to use only ultra-low power microcontrollers. On the other hand, nowadays extraction algorithms assume that the processed signal is defined in a fixed bandwidth. In our approach, belonging to the edge computing research area, we use a deep neural network to determine the narrow bandwidth for filtering the fundamental frequency of the ocean waves and currents on board instruments. The proposed solution is implemented on an 8 MHz ARM Cortex-M0+ microcontroller without a floating point unit requiring only 9.54 ms in the worst case based on a deep neural network solution. Compared to a greedy algorithm in terms of computational effort, our worst-case approach is 1.81 times faster than a fast Fourier transform with a length of 32 samples. The proposed solution is 2.33 times better when an artificial neural network approach is adopted. [ABSTRACT FROM AUTHOR]