Set instant pot to sauté mode and add olive oil.
Add the beef, season with salt and pepper and sauté in batches searing all sides. Set beef aside.
Pour the beef broth into the pot and scrape the bottom getting all the bits off.
Stir in the garlic, Worcestershire sauce, onion, mushrooms, and beef with all its juices.
Place the lid on the instant pot and set the valve to sealing. Set the pot to high pressure for 15 minutes and do a quick release once the time is up.
Whisk together the cornstarch and water until smooth.
Once the pin has dropped, remove the lid. Turn off the instant pot and then set to sauté mode. Stir in the cornstarch slurry.
Let the beef and gravy bubble for 1-2 minutes until the gravy has thickened.
Turn off the instant pot and serve immediately over mashed potatoes, egg noodles or rice.