PIcklist changes not showing

I've changed the picklist values for the 'Industry' field in the 'Accounts' tab using the 'setup' screens. When I go into 'setup', I can see the picklist values I set up.

However, when I set up a new account, in the 'Industry' picklist, I still get the standard values that were there by default, not the ones I entered. Why is that? What do I need to do?