Preheat the air fryer to 400°F (200°C). Spray basket with cooking spray. Pat the shrimp dry with paper towels and add them to a bowl.
In a small bowl, combine the olive oil, lemon juice, garlic powder, smoked paprika, salt and pepper. Add to the shrimp and toss evenly to coat.
Place the seasoned shrimp in a single layer in the air fryer basket, ensuring they are not overcrowded. You may need to do this in batches depending on the size of your air fryer basket. Air fry for 7-8 minutes, flipping the shrimp halfway through.
Shrimp should be pink and opaque when fully cooked, with an internal temperature of 145°F (63°C). Remove the shrimp from the air fryer basket and serve immediately with your favorite sides or dipping sauces.