Preheat the air fryer to 380°F (193°C).
In a mixing bowl, combine the ground beef, olive oil, chili powder, cumin, garlic powder, onion powder, paprika, salt, and black pepper. Mix well until the beef is evenly coated with the spices.
Shape the seasoned ground beef into small, compact meatballs, about 1 inch in diameter.
Place the meatballs in the preheated air fryer basket in a single layer, ensuring there is space for air circulation.
Cook the meatballs for 10 minutes at 380°F (193°C), shaking the basket halfway through for even cooking.
After 10 minutes, check if the meatballs are browned and cooked through; cook for an additional 2-3 minutes if necessary.
Once cooked, remove the meatballs from the air fryer and transfer them to a bowl. Gently mash them with a spatula for easier filling of the taco shells.
Warm the taco shells in the air fryer for 2-3 minutes if desired, or heat them as per package instructions.
Fill each taco shell with the ground beef mixture and add your favorite toppings.