Not exactly. Dogs don't really have conversations or even sentences. If they could speak, it would sound something like, "Food! Food!" or "Play? Play!" Dogs would only blurt out something they see or...
Yes it is possible for a dog to talk you can teach a dog to talk though it can be freaky cool.
A dog can talk two ways
1. Bark Bark
2. English
It will take a while to get a dog to talk...