Preheat the air fryer to 375°F (190°C).
Heat olive oil in a medium skillet over medium heat.
Add the diced onion and red bell pepper to the skillet and sauté for 3-4 minutes until softened.
Add the minced garlic and cook for 30 seconds until fragrant.
Add the chopped tilapia to the skillet and cook for 4-5 minutes until the fish is opaque and cooked through, breaking it up with a spatula as it cooks.
Stir in ground cumin, smoked paprika, chili powder, salt, and black pepper. Cook for 1 more minute to combine flavors.
Remove the skillet from heat and stir in the chopped cilantro. Let the filling cool slightly.
Place one empanada dough disc on a clean surface. Spoon about 2-3 tablespoons of the tilapia filling onto the center of the dough.
Fold the dough over the filling to create a half-moon shape. Press the edges together firmly and crimp with a fork to seal.
Brush the top of each empanada with the beaten egg to give a golden finish when cooked.
Place the empanadas in the air fryer basket in a single layer, making sure they do not overlap. You may need to cook in batches.
Air fry for 12-15 minutes or until the empanadas are golden brown and crispy.
Remove from the air fryer and let cool for 2 minutes before serving.