1. An integrated hybrid arc welding and laser welding power source, said integrated hybrid arc welding and laser welding power source comprising: an arc welding power supply capable of providing an arc welding output for driving an arc welding device; a laser welding power supply capable of providing a laser welding output for driving a laser welding device; and a high-speed communication interface, wherein said arc welding power supply and said laser welding power supply are operatively connected via the high-speed communication interface to provide two-way communication to coordinate said arc welding output with said laser welding output in real time, while operating concurrently, such that a next output of said arc welding output is affected by a current output of said laser welding output and a next output of said laser welding output is affected by a current output of said arc welding output, wherein said arc welding power supply is configured to monitor arc welding feedback information and arc welding status information and provide said arc welding feedback information and said arc welding status information to said laser welding power supply via said two-way communication, and wherein said laser welding power supply is configured to monitor laser welding feedback information and laser welding status information and provide said laser welding feedback information and, said laser welding status information to said arc welding power supply via said two-way communication.