This means that you won’t be able to win the hand, but this will instantly end for you as half of your stake is being returned. By using surrender you’ll be giving up your hand and receive half of your stake back.
Should however the option be available, the first decision you should make in a hand is always whether or not you should use it.
Surrender may not always be available at the table you’re playing at as the rules may vary from one table to another.