No, the USB media created is a bootable live media which means that you can experience the entire Ubuntu Li-f-e operating system with all the pre-loaded applications without the need for installation.
For best experience and data persistence across reboots it is recommended that it be installed. It can be installed on a separate partition along with the existing operating system or in a virtual machine on a hardware with enough resources.
Creation of Live Li-f-e USB with and without data persistence
See Also
Can I install the Linux operating system on my home computer from the USB media created?