Pour chicken broth into the Instant Pot.
Season chicken with salt, pepper, garlic powder, onion powder, and paprika.
Place chicken in the Instant Pot in an even layer.
Close the lid and set the valve to sealing.
Cook on HIGH pressure for 8–10 minutes for fresh chicken breasts, 12–15 minutes for frozen chicken breasts, or 10–12 minutes for fresh thighs.
Let pressure release naturally for 5–10 minutes, then release remaining pressure.
Check that chicken reaches 165°F.
Transfer chicken to a bowl and shred with two forks or a hand mixer.
Stir in ¼ cup cooking liquid to keep the chicken moist.
Serve immediately or store for later.