This is an expression that people use near the end of a conversation. For example, if you're visiting someone and you think that it's time for you to leave, you can say:
All right, well I guess I should be going.
"All right" can be said in response to something that another person says. For example:
But you can also say "all right" on its own to show that you're ready to end the conversation, even if no one else has said anything.