Heat olive oil in a large skillet over medium heat until hot, about 2 minutes.
Season chicken with salt, pepper, smoked paprika, onion powder, garlic powder, and chili powder. Add chicken breast to the hot skillet; cook chicken until no longer pink at the center and juices run clear, about 5 minutes. Remove chicken to a bowl; set aside.
Add peaches and jalapeño to the same skillet; cook until peaches soften, 5 to 6 minutes.
In a small bowl, whisk together peach preserves, soy sauce, apple cider vinegar, and cornstarch until well combined. Set aside.
Return cooked chicken to the skillet and stir in peach preserves mixture, making sure to coat chicken and peaches well. Continue to cook, stirring, until sauce thickens, about 2 minutes.
Garnish with fresh or dried cilantro when serving.