In a small bowl, combine chili powder, cumin, garlic powder, salt, pepper, and cayenne.
Pat chicken dry with paper towels, rub with oil, and sprinkle evenly on both sides with spice mixture.
Place chicken in air fryer basket and cook at 400˚F/204˚C for 12-16 minutes, or until chicken registers 175˚F/79˚C. Flip halfway through cooking, if desired.
Let chicken cool slightly, then shred or chop into bite-size pieces. Serve chicken with lime wedges over salad or in tortillas with taco toppings.