Not too long ago, Kuka filmed an ad hinting that their industrial robot arm was fast enough and had software that enabled it to play ping pong
with professional table tennis player, Timo Boll. However, that match was pretty disappointing because it never really showed the robot arm returning a tournament-level serve from Boll (or even returning any kind of shot that wasn't highly edited to make it look more dramatic). Here are a few ping pong playing robots in reality -- and they are not yet ready to compete with humans.
If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post