Slang can be seen as creative and flexible and can also show peoples idiolect. Negatives are that it can exclude some people if they don't know the words and also it can be inappropriate in some situations, e.g. job interviews.
Extensive use of slang can be considered a dialect of a language. That is, it has vocabulary different from the standard language. The difference comes from new words (e.g. "bling") and new meanings (e.g. "popping"). Since the words or new meanings may not be known by some listeners, or the meanings may be understood as different, communication is limited. The purpose of language is communication, but using a different dialect or language that is not known by all listeners can limit communication. This limit is an advantage if the speaker wishes to shield his meaning from some listeners. It is a disadvantage if the speaker wishes to be understood by all listeners.
In 1950, no one would have understood the meaning of "He was, like, 'duh!'" since "was" didn't mean "said", "like" as an adjective always meant "similar to" and "duh" was not a word. Even today, many people don't know the meaning of "I showed him props so he gave me his math. Let's jet." If you want to conceal meaning from people who are not in your social group, use slang. If you want to communicate to everyone, don't use slang.
Chronic use of slang also makes it harder to get a job.
The advantage AND the disadvantage is that slang is a code system;
only the people within the in-group understand what you're talking about.
That's generally "bad" ... but people seldom think so.
There are several advantages to using slang. If you use slang, you have a private language that not everyone can understand. You could also appear "cool" or "hip" if you know popular slang terms. Speaking slang also gives your conversation more emphasis sometimes.
The most important thing would be that people might not understand you if you use slang. Also, it's informal language, so you don't sound as businesslike or professional as you would if you didn't use it.
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