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Because CPU is faster than memory. Fetching instructions from memory would require considerable amount of time while CPU is much faster. So, prefetching the instructions to be executed can save considerable amount of waiting time.
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In computer architecture, instruction prefetch is a technique used in microprocessors to speed up the execution of a program by reducing wait states.

So, the speed up is achieved because the wait states are reduced.
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Instruction prefetching is also useful in case of execution of branch instruction on pipelined processors.

Target instructions can be prefetched thereby reducing the chance of pipeline flush/clean when a branch instruction is executed.

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