It's often used in words related to:
* Ancient history and cultures: Paleontology, Paleolithic, Paleography
* Old or primitive forms: Paleobotany, Paleoanthropology, Paleoclimatology
* Things that are no longer in use: Paleotechnique, Paleoart
So, whenever you see "paleo" in a word, it usually signifies something related to the past or ancient times.