Add the beans and corn to the instant pot, followed by the onion, garlic, green chiles, cumin, chili powder, salt, and pepper. Place the chicken breasts on top of the ingredients and then add the cream cheese. Pour the chicken broth in last.
Place the lid on top and ensure that the valve is in the sealed position. Cook on high pressure for 15 minutes followed by a natural release for 10 minutes before releasing remaining pressure. The instant pot takes approximately 10 minutes to come to pressure and another 5-7 to release.
Once the pin drops, open the lid and remove the chicken and place it in a small bowl, use two forks to shred it. Stir the chili well until all of the ingredients are combined and the cream cheese has melted.Add the shredded chicken back to the instant pot and stir.