Rub the taco seasoning over the surfaces of the chicken breasts. Set Instant Pot to saute. Heat the olive oil and add the chicken to the pot. Cook for 3 minutes/side. Using tongs, remove the chicken from the pot.
Add the onion, garlic, jalapeno (if using) and cilantro to the pot. Saute for 3 minutes, or until soft and fragrant. Add chili powder, cumin, paprika, salt and pepper and mix well.
Add chicken broth, tomatoes, black beans, corn and green chiles to the pot. Deglaze the pot (scrape the bottom with a spoon) and mix well. Add the chicken back to the pot. Place the cover on the pot and set timer to 10 minutes on high pressure (pressure cook setting). It will take the IP around 20 minutes to build up pressure before it begins cooking.
When cooking is done, do an immediate quick release. Remove cover and remove chicken. Shred and add back to the pot. Stir and let sit for 5 minutes.