Season chicken with garlic powder, ranch seasoning, and salt.
Cook bacon in a skillet until crisp. Remove bacon and drain most of the grease. Add onion to the skillet and cook until softened. Return bacon to the skillet, add apricot jam, and cook until jam is melted and combined with bacon.
Combine olive oil, avocados, cilantro, mayonnaise, salt, pepper, and a splash of water in a blender. Blend until smooth.
Heat oil in a skillet. Fry shallots until golden brown.
Warm tortillas.
Assemble tacos with chicken, bacon jam, avocado sauce, fried shallots, and cheese.
