Prompt Caching with the OpenAI API: A Full Hands-On Python tutorial

Prompt caching is a feature in LLM APIs, like OpenAI's, that reduces cost and latency by reusing computations for repeated prompt prefixes. For caching to be activated, the repeated prefix must be at the beginning of the prompt and exceed a minimum token threshold, such as 1,024 tokens. A hands-on Python tutorial demonstrates this by making two API calls with the same long prefix, showing a significant reduction in response time for the second call. The guide also warns against common pitfalls that cause a cache miss, such as having a prefix that is too short or placing dynamic content before the static prefix.