In a large skillet, heat the olive oil over medium-high heat. Add the chicken pieces and season with salt, black pepper, garlic powder, onion powder, smoked paprika, and cayenne pepper. Cook for about 5-7 minutes, stirring occasionally, until the chicken is browned and cooked through.
Add the sliced jalapeños, bell peppers, and onion to the skillet. Sauté for an additional 5 minutes until the vegetables are tender.
Stir in the corn and diced tomatoes, cooking for another 2-3 minutes until heated through.
Sprinkle the shredded cheddar cheese over the top and cover the skillet. Allow the cheese to melt for about 2 minutes.
Remove from heat and garnish with fresh cilantro if desired. Serve hot.