Set your Instant Pot cooker to the saute setting. Heat olive oil until it shimmers but doesn't smoke. Add the onion and cook until soft, about two minutes. Add the garlic and cook an additional minute. Add chili powder, smoked paprika and salt. Stir to combine. Add the beans, salsa, and chicken, stir to combine. Sprinkle the rice on top of the chicken and beans mixture. Pour chicken broth over the mixture and then lock the lid in place.
One thing to remember when you're cooking with your Instant Pot is that it does actually take more time than the amount of time you set the clock for. The pressure has to build up before the cooking time begins. Plus some recipes call for a natural release which can take up to 20 minutes. So just make sure you remember than when you're planning to cook something in your Instant Pot or pressure cooker.