in reply to extract xml data and insert new xml tag into same file

It's a little intimidating to get started with an XML parser, so Here is a working solution for the text you presented:

Please use it as a model to learn how to use the XML parser for your real life problem.

$ perl -MXML::LibXML -e ' my $dom = XML::LibXML->load_xml(string => shift); print $_->to_literal(),"\n" for $dom->findnodes("/collection/document/*/text"),; ' "<collection><document><title><text> Hello how are you</text></titl +e></document><document><abstract><text>I am fine</text></abstract></d +ocument></collection>"
Output
Hello how are you I am fine

             My goal ... to kill off the slow brain cells that are holding me back from synergizing my knowledge of vertically integrated mobile platforms in local cloud-based content management system datafication.