Turn the Instant Pot to the ‘Sauté’ setting and add olive oil.
Once the oil is hot, add the diced onion and sauté for 2 minutes until translucent.
Add the minced garlic and cook for 30 seconds until fragrant.
Add the ground beef to the pot, breaking it up with a wooden spoon.
Cook the beef until browned, about 4 minutes, stirring occasionally.
Drain any excess fat from the pot if desired.
Add salt, black pepper, dried oregano, and paprika. Stir to combine.
Pour in the beef broth and stir, scraping any browned bits from the bottom of the pot.
Secure the Instant Pot lid and set the valve to ‘Sealing’.
Select the ‘Pressure Cook’ or ‘Manual’ setting and set the timer for 5 minutes.
When cooking is complete, carefully perform a quick release by turning the valve to ‘Venting’.
Open the lid and stir the ground beef mixture.
Serve immediately or use as a base for tacos, pasta sauces, or casseroles.