The discussion revolves around simplifying the expression (cos(2x))^2 using trigonometric identities. Participants clarify that (cos(2x))^2 means to first compute 2x, then find the cosine of that value, and finally square the result, emphasizing that it remains (cos(2x))^2, not cos^2(4x). There is confusion about whether it can be expressed as cos^2(2x) or if it relates to cos^2(4x), but it is established that the exponent applies only to the cosine function, not the argument. The conversation highlights the importance of understanding trigonometric identities and the correct interpretation of notation. Ultimately, the expression can be simplified to cos^2(2x) for further analysis.