In this special conversation, Stephen Wolfram, a celebrated computer scientist known for the Wolfram Physics Project, and Carl Friston, a pioneering neuroscientist behind the Free Energy Principle, tackle profound questions about existence. They explore what defines an observer and agency in both natural and artificial worlds. Topics include how observers shape their perceptions, the intricacies of agency in AI, and the philosophical implications of predictability versus unpredictability in our universe. Their combined insights push the boundaries of understanding agency, consciousness, and reality.