Select SAUTÉ-High and set the time for 30 minutes. Press START. Add butter and olive oil to the Inner Pot.
When the oil is hot, add chicken. Be sure to add chicken before butter gets dark brown or burnt. Sauté chicken cubes until light golden, for around 5 minutes.
Add onion, garlic, celery and carrot. Reduce temperature to low. Sauté for 1-2 more minutes.
Add mushrooms, salt and black pepper. Mix all the ingredients in the pot.
Press CANCEL.
Add bay leaf, thyme sprig, wild rice and chicken stock and milk to the Inner Pot.
Close the Lid on the pot and set to VENT. Select SLOW COOK-High for 6 hours. Press START.
When the program ends, adjust seasoning according to your taste and enjoy!