talking vs conversation

talking and conversation both are nouns.

Word	Noun	Adjective	Verb	Adverb
talking	Yes	No	No	No
conversation	Yes	No	No	No

As nouns, conversation is a hypernym of talking; that is, conversation is a word with a broader meaning than talking:

talking: an exchange of ideas via conversation
conversation: the use of speech for informal exchange of views or ideas or information etc.

talking (noun)	conversation (noun)
an exchange of ideas via conversation	the use of speech for informal exchange of views or ideas or information etc.