Heat the olive oil in a large skillet over medium-high heat. Add the chicken pieces and season with chili powder, cumin, garlic powder, onion powder, paprika, salt, and pepper. Cook until the chicken is browned and cooked through, about 5-7 minutes.
Add the corn, black beans, diced tomatoes, and bell peppers to the skillet. Stir to combine and cook for an additional 5 minutes, until the vegetables are tender.
Sprinkle the shredded cheese over the top of the chicken and vegetable mixture. Cover the skillet and reduce the heat to low. Allow the cheese to melt, about 2-3 minutes.
Remove from heat and garnish with fresh cilantro. Serve with lime wedges on the side.