Heat olive oil in a large skillet over medium heat.
Add diced onion and sauté for 3-4 minutes until softened.
Add minced garlic and cook for 1 minute until fragrant.
Add ground beef to the skillet and cook, breaking it apart with a spatula, until browned and cooked through, about 6-8 minutes.
Drain any excess fat from the skillet.
Add diced green and red bell peppers to the skillet and cook for 4-5 minutes until slightly tender.
Stir in diced tomatoes, frozen corn, chili powder, ground cumin, smoked paprika, salt, and black pepper.
Cook for an additional 5 minutes, stirring occasionally, allowing the flavors to combine and the mixture to heat through.
Sprinkle shredded cheddar cheese evenly over the top of the skillet mixture.
Cover the skillet with a lid and cook for 2-3 minutes until the cheese is melted.
Remove from heat and garnish with chopped fresh parsley.
Serve hot directly from the skillet.