Freeze the beef for 1-2 hours until firm but not frozen solid. Trim all visible fat and slice against the grain into ¼ inch (6mm) thick strips.
In a large bowl, whisk together soy sauce, Worcestershire sauce, brown sugar, garlic powder, onion powder, smoked paprika, black pepper, red pepper flakes, and liquid smoke until fully combined.
Add the beef strips to the marinade and toss thoroughly to coat. Transfer to a zip-lock bag or airtight container and refrigerate for at least 4 hours, preferably overnight (8-24 hours).
Remove beef from marinade and pat each strip completely dry with paper towels. Surface moisture must be removed for proper dehydration.
Preheat air fryer to 160-180°F (71-82°C). Arrange beef strips in a single layer in the basket without overlapping. Work in batches if needed.
Air fry for 2-3 hours, checking every 30-45 minutes and flipping strips if lying flat. Jerky is done when dry, leathery, and bends slightly without snapping.
Remove jerky from air fryer and cool completely on a wire rack for at least 30 minutes. Texture will firm up as it cools.
Store in an airtight container at room temperature for up to 2 weeks, in the refrigerator for up to 1 month, or in the freezer for up to 3 months.