It means Hey You.
It is mainly used when addressing an individual in any given situation to get his or her attention.
Ayo! What time is it?
Ayo, Can I talk to you for a minute?
All right.,Okay,So and So.
It can be used in a positive or negative sense.
Positive Sense: That movie was aight.
Negative Sense:That burger tasted aight but it was a bit undercooked.
