Superscalar and VLIW architectures can exploit instruction-level parallelism (ILP) by processing multiple instructions simultaneously. There are two main approaches: superscalar processors fetch and execute independent instructions in parallel using dependency checking, while very long instruction word (VLIW) architectures rely on compilers to group independent instructions into single long instructions. List scheduling and trace scheduling are algorithms used to schedule instructions for ILP. Trace scheduling works by identifying common code traces and scheduling basic blocks within the trace together.