In a small bowl, add the Italian seasoning, garlic powder, smoked paprika, salt and pepper. Mix well to combine.
Rub the spice mix all over each of the chicken breasts.
Set the instant pot to the sauté setting and add olive oil. Once pot is hot (about 2 minutes), add chicken breasts and sear until both sides are golden brown. Set aside. If your chicken is frozen, you don’t need to do this step.
Then, pour the chicken broth into the Instant Pot and place the trivet inside. Place the chicken on top of the trivet.
Close the Instant Pot lid. Lock it and make sure the steam valve is in the sealed position.
Select manual (older model) or pressure cook (newer models) and set on high pressure for 5 minutes (if using frozen chicken breast, set it to 10 mins). It’ll take about 10-15 minutes for the pot to reach pressure, then the timer will start counting down.
After the 5 minutes is up, let the Instant Pot release naturally for 10 minutes. Then, do a Quick Release, which means move the valve to venting to release the steam. When all the steam is gone, open the instant pot.
Open the lid and transfer the chicken to a cutting board. Let it rest for 5 minutes and then slice before serving.