Heat olive oil in a large skillet over medium-high heat. Add diced potatoes and cook until browned and tender, about 10 minutes. Remove potatoes and set aside.

In the same skillet, add the ground beef and diced red bell peppers. Cook until the beef is browned and the peppers are softened, about 7 minutes. Drain excess fat.

Stir in the taco seasoning and beef broth. Simmer for 3 minutes until the liquid reduces.

Return the cooked potatoes to the skillet, stirring to combine with the beef mixture.

Sprinkle the shredded cheese evenly over the top. Cover the skillet with a lid for 2 minutes until the cheese is melted.

Garnish with fresh cilantro and serve immediately.