Yes, it’s the same principle as polling an RSS feed for updates.
If it’s an RSS feed you’re dealing with, you’ll find trigger automations built into automation platforms like Make and Zapier.
From there you just unpack it, and create your CMS record with the data you want.
I’d try Make first, it’s far less expensive.
If it’s a custom XML feed you’ll likely need to build a time-based trigger and custom polling mechanism to identify changes.