Begin by patting the chicken breasts dry with paper towels to remove excess moisture.
In a small bowl, mix together the garlic powder, onion powder, dried thyme, dried rosemary, paprika, salt, and black pepper. Rub this spice mixture all over the chicken breasts.
Set your Instant Pot to the 'Sauté' function and add the olive oil. Allow it to heat for about 2 minutes.
Once the oil is hot, sear the chicken breasts in the Instant Pot for about 2-3 minutes on each side, until they are lightly browned.
After searing, remove the chicken and set it aside. Pour in the chicken broth and scrape the bottom of the pot to deglaze.
Return the chicken to the Instant Pot, layering it in a single layer if possible.
Close the lid, ensuring that the vent is in the sealing position. Select 'Pressure Cook' or 'Manual' mode and set the timer for 8 minutes.
Once cooking is complete, allow the pressure to naturally release for 5 minutes, then perform a quick release for any remaining pressure.
Carefully remove the chicken from the pot and check that the internal temperature reaches 165°F (75°C) using a meat thermometer.
Let the chicken rest for a couple of minutes before slicing. Garnish with chopped fresh parsley before serving.
Feel free to adjust the spices based on your preference and serve with a side of rice, quinoa, or a fresh salad.