Those labels can be customized using I18n under the +helpers.submit+ key
and using %{model} for translation interpolation:
en:
helpers:
submit:
create: "Create a %{model}"
update: "Confirm changes to %{model}"
It also searches for a key specific to the given object:
en:
helpers:
submit:
post:
create: "Add %{model}"
Source @ actionview/lib/action_view/helpers/form_helper.rb