Design a YouTube video recommendation system. You are provided with all the necessary historical data. Build a system that recommends YouTube videos to both existing and new users on the platform.

Note: Before reviewing the solution provided here, users are expected to be familiar with:

• Matrix Factorization Model [Discussed here]
• Two-Tower Architecture Model [Discussed here]
• Understanding the limitations of the Matrix Factorization Model, which will be discussed in the solution details section.