Preheat the air fryer to 375°F (190°C) for 5 minutes.
Pat the chicken breasts dry with paper towels.
Brush both sides of the chicken breasts with olive oil.
In a small bowl, mix garlic powder, smoked paprika, salt, and black pepper.
Sprinkle the seasoning mixture evenly over both sides of the chicken breasts.
Place the chicken breasts in the air fryer basket in a single layer.
Cook the chicken breasts for 15 minutes, flipping halfway through.
After 15 minutes, place one slice of cheddar cheese on top of each chicken breast.
Continue cooking for an additional 3 minutes or until the chicken reaches an internal temperature of 165°F (74°C) and the cheese is melted.
Remove the chicken breasts from the air fryer and let rest for 3 minutes.
Garnish with chopped fresh parsley before serving.