is cold calling still effective?

or is email the way to go now? I work b2b and curious what everyone's thoughts are. I feel like nowadays since there are so many spam and scam callers, people are quick to hit that decline button. I know i am.

Edit: Since many people are asking about the industry/product I'm selling. I'm sell industrial tech components. Flash storage and DRAM. Our Target prospects are small and mid size companies.