Laura Vanderkam has written a good article for Fast Company about the value of face-to-face communication. She examines the science behind why in-person communication may be more beneficial than virtual meetings at times.
Vanderkam points to one particularly interesting study by Juliana Schroeder, Jane Risen, Francesca Gino, and Michael Norton. They found that, "Handshakes are particularly consequential nonverbal gestures in negotiations because people feel comfortable initiating negotiations with them and believe they signal cooperation." The scholars discovered that handshakes lead to more cooperation in a negotiation. That collaboration helps people grow the pie, i.e. achieve potential win-win outcomes. Moreover, the handshake led to more honest behavior. People were less likely to lie about their interests after exchanging a handshake with another party.
Vanderkam points out several other benefits of face-to-face communication. You can read nonverbal cues more easily, and frankly, you are more attentive as it becomes much more socially awkward/inappropriate to multitask in person. In other words, you are simply less likely to look at your laptop, tablet, or phone if you are in a face-to-face meeting than in a virtual setting.