【Perl】Subroutines in regex?【Amateur】

Can I use subroutines in regex?

For example, is it possible to do something like:

$string =~ /<Text (example)>/<Text convert_text($1)>/g;

I know that doesn't work like that, but is there a way to do something like that?

>>2
It depends on what you mean by "subroutines". Regular expressions (or rather, finite state automatons) are capable of carrying out any computation which requires only constant amount of memory.