Heat the Instant Pot to the SAUTE function. Add the olive oil, onion, and carrot. Cook, stirring occasionally, until the vegetables are soft (about 5 minutes).
Add the garlic and ground turkey and cook, stirring occasionally, until the turkey has browned (5 minutes).
Add the chicken broth or stock and scrape any browned bits from the bottom of the pan. Important before the pressure cooking cycle to avoid a burn warning.
Add the diced tomatoes, great northern beans, chili powder, cumin, paprika, and Italian seasoning. Stir to combine.
Seal the lid and set the pressure release valve to the “sealing” position. Select Manual - High Pressure for 8 minutes.
When the cooking cycle is completed allow a NATURAL RELEASE for 5 minutes followed by a MANUAL RELEASE to release any remaining pressure.
Season salt and black pepper to taste.
Enjoy warm, topped with your favorite garnishes. Store any leftover chili in an airtight container in the refrigerator for up to 5 days.