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Since there is probably a speaker making the presentation and giving further identification of what's in each slide, the graphic approach will make it clearer and more interesting, holding the audience's attention more effectively.
Graphics, like the written word, can be done well or poorly. But all things being equal, graphics are more effective than text alone. I worked on many such presentations in my ad agency days; keeping the audience interested and receptive was critical. And we knew, through experience as well as published research from other sources, that layouts with color and graphic interest are far and away more effective.