Prompt caching: 10x cheaper LLM tokens, but how?

Prompt caching is a strategy that significantly reduces the cost of using large language model (LLM) tokens by tenfold. This approach involves storing and reusing previously generated prompts to minimize the number of tokens needed for future queries, thereby optimizing resource usage and reducing expenses. Sam Rose, a Senior Developer Educator at ngrok, explores this concept in detail, offering insights into how developers can implement prompt caching to maximize efficiency and cost-effectiveness when working with LLMs.