The question of wave function collapse and the role of observation or measurement in quantum mechanics is a topic of ongoing debate and interpretation. The traditional Copenhagen interpretation, developed by Niels Bohr and his colleagues, suggests that wave function collapse occurs when an observer makes a measurement or observation. According to this view, the act of measurement forces the system to "choose" a specific state and collapses the superposition into a definite outcome.
However, other interpretations, such as the Many-Worlds interpretation and the consistent histories interpretation, offer alternative perspectives. According to the Many-Worlds interpretation, wave function collapse doesn't occur, but rather the universe branches into multiple parallel realities, each corresponding to a different outcome. The consistent histories interpretation seeks to explain the appearance of wave function collapse by considering the entire history of a quantum system, including the measurement apparatus and observer.
Importantly, these interpretations are theoretical frameworks that attempt to make sense of the mathematical formalism of quantum mechanics, but they do not have universally agreed-upon consensus. The question of wave function collapse and the role of observation remains an open topic of investigation and interpretation within the field of quantum mechanics.
Regarding your second point, it is true that the quantum information of a particle is encoded within its wave function, even if we do not make an observation or measurement. The wave function describes the probabilities of different outcomes when a measurement is made. Even in the absence of observation, the wave function evolves according to the Schrödinger equation, preserving the information about the system.
It's worth noting that the act of observation or measurement in quantum mechanics is not limited to conscious observers. In a quantum system, an observation can be made by any interacting physical entity, whether it is a conscious observer or an inanimate apparatus.
The nature of wave function collapse and the role of observation continue to be subjects of research, theoretical exploration, and philosophical debate in the field of quantum mechanics.