Results of ablation of different materials by femtosecond and picosecond laser pulses are compared. Advantages and disadvantages of both laser systems are discussed. Two most important criteria, processing speed and quality of the fabricated structures, are addressed. High repetition rate picosecond lasers allow high speed cutting of thin metal foils and silicon wafers, whereas for micro-drilling it is more advantageous to use femtosecond laser systems.