Prepare chicken by cutting boneless, skinless chicken breasts into 1-inch cubes. In a large bowl, combine chicken with olive oil, chili powder, cumin, smoked paprika, garlic powder, onion powder, salt, and pepper. Mix well and marinate for 10–15 minutes.

Sauté vegetables by heating a skillet over medium heat and adding a splash of olive oil. Once shimmering, add diced yellow onion and chopped bell peppers. Sauté for about 5 minutes until softened and fragrant. Mix in black beans and corn and cook until heated through, about 3 minutes.

Cook chicken by pushing the sautéed vegetables to the side and adding marinated chicken. Cook for 5–7 minutes, stirring occasionally, until golden brown and cooked through (internal temperature of 165°F/74°C).

Combine ingredients by adding sautéed vegetables back into the skillet. Pour in chicken broth and bring to a gentle simmer for 3–5 minutes. If desired, stir in heavy cream for creaminess.

Serve hot, topped with shredded cheddar cheese, sour cream, and guacamole. Enjoy with warm tortillas or over rice.