Handling rate limited APIs optimally is crucial for faster execution of parallel requests, and OpenAI imposes request rate limit and token rate limit.Exponential Backoff is used to handle failed requests by retrying after increasing time intervals to prevent continuous retries.The Token Bucket Algorithm controls requests by allowing them only if enough tokens are available in a bucket that fills at a constant rate.Tokenizing the input and estimating output tokens are essential steps before sending requests to the OpenAI Responses API.Guava's RateLimiter class is used to manage token and request rate limits efficiently in Java applications.Backoff strategies are employed to handle situations where rate limits are not met, and requests need to be retried after a delay.The article presents code examples using the openai-java, JTokkit, and Guava libraries for implementing rate limit handling in Java applications.Dependencies for these libraries can be added through Maven, and the code example provided in the article can be used for simulation.The article also suggests resources for further reading on OpenAI rate limits, libraries used, and the Token Bucket Algorithm.Readers can explore different scenarios like changing request limits, token limits, and retry mechanisms for practical understanding.